(Compared to formal Court Proceedings) - Mediation generally provides a faster dispute resolution at less cost, and is confidential unless agreed upon by all parties. Binding Arbitration: Arbitration of a dispute where the Decision of the Arbitrator is final and legally binding on all parties to the arbitration. State or Federal law may provide a limited right of review. The prevailing party may compel compliance with the decision under applicable State or Federal law. Non-Binding Arbitration is the same in every aspect as Binding Arbitration, except that the Decision of the Arbitrator is advisory only. This method allows any party to immediately commence litigation in a court of law as though the arbitration never occurred. This is similar to a Court Proceeding in that the Arbitrator has the power to make a Decision.