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Once in power, Bismarck
Final Offer Arbitration
A dispute resolution process where each party submits their final offer, and an arbitrator chooses one of those offers as the legally binding settlement, without alterations.
Conventional Arbitration
A dispute resolution process where a neutral third party makes a decision to resolve a conflict, often binding, after hearing arguments and evidence from both sides.
Contract Terms
The specific agreements and conditions outlined in a contract that determine the obligations, rights, and expectations of the parties involved.
Strike
A work stoppage initiated by employees as a protest against poor working conditions, low pay, or other grievances.
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