The Negatives of _____ Include the Fact That Arbitrators Do

question 44

Short Answer

The negatives of _____ include the fact that arbitrators do not have to give formal reasons for their decisions, arbitrators have to be paid, the decisions are typically binding, and no formal record is kept.

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Definitions:

Services

Intangible products that cannot be stored, touched, or seen and are consumed at the point of delivery, such as healthcare, education, and financial advising.

Present Value

The present value of a future amount of money or series of cash flows, considering a certain interest rate.

Semiannually

Semiannually means occurring twice a year, typically at six-month intervals.

Discounted

A financial term referring to an instrument, transaction, or cash flow that is valued in present terms, taking into account the time value of money.