AK General Contractor Practice Questions - Alaska General Contractor Exam

What is 'arbitration' as a dispute resolution method in construction contracts?

A court trial A private dispute resolution process where an impartial arbitrator hears evidence and makes a binding decision Mediation by a government agency A negotiation between the parties without a third party

Correct Answer:

A private dispute resolution process where an impartial arbitrator hears evidence and makes a binding decision

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