Diffrence between ARBITRATION &CONCILATION

1. Agreements which provide that,
if a dispute should arise, it will
be resolved by arbitration.
These will generally be
normal contracts, but they
contain an arbitration clause.
Agreements which are signed
after a dispute has arisen,
agreeing that the dispute
should be resolved by
arbitration (sometimes called a
"submission agreement")
ARBITRATION

3. ARBITRATTION CONCILATION
Arbitration is much like a
mini court in which the
parties need to present their
case to a panel of
arbitrators, along with
supporting evidence
The conciliation process is
handled by an impartial
individual known as a conciliator,
who meets with the parties
involved and works with the
parties involved to arrive at a
settlement or resolution.
Arbitration: means the
appointment of an independent
person to act as an adjudicator
(or judge) in a dispute, to decide
on the terms of a settlement.
Conciliation : The dictionary
defines conciliation as "the act
of procuring good will or
inducing a friendly feeling".

4. In arbitration, a panel of
arbitrators hear the cases
of both parties and
examine evidence to come
at a resolution.
In conciliation, most if not all
communication goes through
the conciliator who is trusted
by both parties.
The decision put forth by
arbitrators are final and
legally binding thereby leaving
little room for appeal.
While the decision given by the
conciliator is not binding, with
room for negotiation,