Which process results in a binding decision for both parties?

Mediation involves a neutral third party who facilitates discussions between disputing parties to help them reach a mutually acceptable agreement. Unlike arbitration, the mediator does not impose a decision, and the outcome is not binding unless both parties voluntarily agree to it. Therefore, mediation does not guarantee a resolution that is binding for both parties.

Negotiation is a process where parties communicate directly to reach an agreement without the involvement of a third party. While it can lead to a binding contract if an agreement is reached, it does not inherently result in a binding decision imposed on both parties, as it relies on mutual consent rather than a formal ruling.

A lockout is a situation typically occurring in labor disputes where an employer prevents workers from entering the workplace to compel them to accept certain conditions. It does not involve a decision-making process that yields a binding resolution for both parties; rather, it is a unilateral action taken by one party.