If Fyre media's contracts with customers and suppliers included language such as the following " any dispute arising out of or in connection with the contract including any question regarding its existence validity or termination shall be referred to and finally resolved by binding arbitration in New York City New York. The award of the arbitrator shall be final and binding and judgment they're on maybe enforced by any Court of competent jurisdiction". Which of the following is correct? 1. Provisions of this nature are not usually binding so the customers and suppliers can sign 2. This provision will require the parties to go to mediation to solve any disputes arising out of the contract 3. This type of Clause Is Never enforceable under the federal arbitration Act 4. The suppliers would lose their rights to litigate in court if they sign an agreement with this provision