Med-Arb Is a Form of ADR in Which Both a Mediator

question 78

True/False

Med-arb is a form of ADR in which both a mediator and an arbitrator work simultaneously with the disputing parties to resolve differences.

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Definitions:

Cash Receipts

The total amount of cash collected by a business from all sources during a given period.

Bank Deposits

Funds that individuals or entities place into a banking institution's account for safekeeping, which can include savings, checking, and time deposits.

Cash Account

An account that records all transactions involving cash inflows and outflows for a company.

Collections

The process of pursuing payments of debts owed by individuals or businesses, typically regarding accounts receivable.