Question

Define briefly the term ‘Med Arbitration’.

Answer 1

Med arbitration is an event of failure of mediation and the binding decisions taken by arbitrators..

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Answer 2

Med-Arb Definition: A form of arbitration in which the arbitrators starts as a mediator but in the event of a failure of mediation, the arbitrator imposes a binding decision.Settlement of a dispute (whether of fact, law, or procedure) between parties to a contract by a neutral third party (the arbitrator) without resorting to court action. Arbitration is usually voluntary but sometimes it is required by law.