final offer interest arbitration
Definition
Dispute resolution method in which the arbitrator must choose among the final positions of the parties to the dispute, instead of proposing an intermediate position. Its objective is to encourage both parties to be reasonable in their demands to win the arbitrator's approval. If the gap between the two demands is small, the parties may bridge it among themselves by 'splitting the difference.'
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final offer interest arbitration is in the Corporate, Commercial, & General Law subject.
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