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Today's Terms
Negotiation
Definition:
Process where parties directly exchange ideas, views, promises, and problems surrounding a dispute. Positional bargaining tends to focus on demands, and counter-demands of disputing parties, sometimes leading to a bargaining process where parties trade concessions and demands.
Binding
Definition:
A legally enforceable decision or agreement resulting from a dispute resolution process.
Confidentiality
Definition:
Provides that information shared during the course of a dispute resolution process is deemed private and is not to be revealed to anyone outside of the process.
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