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In place of formal, traditional litigation, Alternative Dispute Resolution (ADR) clauses are becoming more frequent in real estate contracts/transactions. Explain the difference between Arbitration and

In place of formal, traditional litigation, Alternative Dispute Resolution (ADR) clauses are becoming more frequent in real estate contracts/transactions. Explain the difference between "Arbitration" and "Mediation". Also, what is the difference between "binding" and "non-binding" arbitration

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