Definitions
- Referring to a legal process where a neutral third party makes a decision to resolve a dispute. - Describing a formal method of settling conflicts outside of court. - Talking about a binding process where the arbitrator's decision is final and legally enforceable.
- Referring to a process where a neutral third party helps parties in a dispute find a mutually acceptable solution. - Describing an informal method of resolving conflicts through negotiation and compromise. - Talking about a non-binding process where the conciliator does not make a final decision.
List of Similarities
- 1Both involve resolving conflicts or disputes.
- 2Both use a neutral third party to assist in the process.
- 3Both aim to find a solution that is acceptable to all parties involved.
- 4Both can be alternatives to going to court.
- 5Both require open communication and negotiation.
What is the difference?
- 1Authority: In arbitration, the arbitrator has the authority to make a final decision, while in conciliation, the conciliator does not have the power to impose a decision.
- 2Binding vs. Non-binding: The decision reached in arbitration is legally binding and enforceable, whereas the outcome of conciliation is not legally binding and can be rejected by either party.
- 3Formality: Arbitration is a more formal process, often used in legal settings, while conciliation is generally considered less formal and can be used in various contexts.
- 4Role of the Third Party: In arbitration, the arbitrator acts as a judge and makes a decision, while in conciliation, the conciliator acts as a mediator and facilitates the negotiation process.
- 5Finality: The decision made in arbitration is final and cannot be appealed, whereas the outcome of conciliation can be revisited or further negotiated if necessary.
Remember this!
Arbitration and conciliation are both methods of resolving conflicts or disputes with the help of a neutral third party. However, the main difference lies in the authority and finality of the decision. Arbitration is a formal process where the arbitrator has the power to make a binding decision, while conciliation is an informal process where the conciliator assists in finding a mutually acceptable solution without imposing a final decision.
