What is the role of arbitration in industrial relations?

Arbitration is an important part of industrial relations law in North Carolina. It is a process of resolving disputes between labor and management in a fair and equitable manner. Arbitration is used when negotiations between the two sides reach an impasse and they are unable to agree on a settlement. The most important role of arbitration is to provide a neutral third party to help resolve the dispute. The third-party arbitrator is often chosen by both sides and is usually a well-experienced lawyer or a labor specialist. Through arbitration, both parties are able to have their cases heard in a more efficient manner and to be represented by legal counsel. The arbitrator will examine the facts and evidence presented by both sides and make a decision on the case. This decision is binding on both parties and cannot be appealed. The decision made by the arbitrator is final and both parties must abide by its terms. Arbitration is an important tool for maintaining good industrial relations. It allows for timely resolution of disputes and helps to prevent labor disputes from escalating into costly legal battles. This helps to preserve the relationship between labor and management and encourages cooperation between the two parties.

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What is the role of arbitration in industrial relations?

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