a judgment made by a third party to settle a dispute between two other parties, which is obligatory (both parties agree in advance to abide by the result)
Included in the 300-page law are provisions to eliminate the right to strike and binding arbitration for public workers.
binding arbitration is a process in which two sides select an impartial third party to resolve an issue.
So what can we learn from binding arbitration and how can we apply it to the Congressional gridlock?
In some cases, binding arbitration results in a win-win outcome; other times, it results in a lose-lose outcome.