Interest arbitration, or third-party arbitration, is an essential element of the Canadian industrial relations system … labour relations policy, interest arbitration has become the primary alternative to costly work stoppages. By and large, most … stakeholders appear to hold the view that the arbitration system functions fairly well, judged at least by the overall satisfaction …

binding arbitration. If the dispute concerns the rights or obligations of one of the parties under the present collective …-bargaining agreement, the arbitration is termed "grievance," "rights," or "quasi-judicial" arbitration. If the disagreement pertains to the … terms of a future collective-bargaining agreement between the parties, the ensuing arbitration is termed "interest …