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Arbitration Clause
A clause in a contract providing that, in case of a dispute, the parties will determine their rights through arbitration rather than through the judicial system.
Dispute
A disagreement or conflict between parties that can be resolved through negotiation, mediation, or legal action.
Negotiation
A dialogue between two or more parties intended to reach a beneficial outcome over a conflict, disagreement, or to forge agreements while addressing each party's interests.
Binding Mediation
A dispute resolution process where an impartial mediator makes decisions that are enforceable and legally binding on the parties involved.
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