This document discusses various dispute resolution methods like arbitration, conciliation, mediation, and negotiation. It provides details on arbitration and conciliation. Arbitration is described as a private judicial determination of a dispute by an independent third party, whose decision is final and binding. Conciliation is defined as the adjustment and settlement of a dispute in a friendly manner through a non-binding third party process. The key principles of conciliation discussed are independence, fairness, confidentiality, and cooperation of parties. The advantages of conciliation include party autonomy, expertise of the decision maker, and efficiency. The conciliation procedure involves parties presenting evidence and arguments to the conciliator. The main objectives of the Indian Arbitration and Conc