Common use of Binding Decision Clause in Contracts

Binding Decision. The arbitrator will be requested to issue his/her binding decision within five (5) days of the conclusion of the hearing. Such decision is enforceable on the parties to the arbitration but will not be precedent setting to other companies covered by the same collective agreement unless such understanding is reached prior to the arbitration hearing commencing.

Binding Decision. The arbitrator Arbitrator will be requested to issue his/her binding decision within five (5) days of the conclusion of the hearing. Such decision is enforceable on the parties to the arbitration but will not be precedent setting to other companies covered by the same collective agreement unless such understanding is reached prior to the arbitration hearing commencingarbitration.