A dispute resolution process in which a dispute is referred to one or more arbitrators who issue a final award resolving the dispute, which constitutes an enforceable instrument.
Conciliation is the amicable resolution of a dispute through mutual agreement between the disputing parties by means of reconciliation and compromise under an organized procedural and administrative framework. It aims to bridge viewpoints and contain disputes through tolerance and mutual consent, and the resulting minutes constitute an enforceable instrument.
A standalone agreement entered into between the parties after a dispute has arisen, whereby the specific dispute is referred to arbitration.
A procedure aimed at officially certifying amicable agreements between the parties to the minutes, rendering them enforceable instruments.