final offer arbitration
- A type of interest arbitration where the arbitrator is obligated to either accept or reject the last offer proposed by any participant and is not allowed to favor a middle ground
- The employer and the union couldn't agree on wages, so they entered into final offer arbitration to solve the dispute.
- During the final offer arbitration, the arbitrator selected the company's wage proposal, impacting all the involved parties.
- Final offer arbitration is often a last resort after negotiations between parties reach a stalemate.