Which statement is accurate regarding the involvement of third parties in mediation and arbitration?

The statement that an arbitrator serves as an unbiased decision-maker is accurate because the primary role of an arbitrator is to listen to the evidence and arguments presented by both parties and then render a decision based on that information. Unlike judges in court, arbitrators are typically chosen by the parties involved and are expected to remain impartial throughout the process. Their decision, known as an award, is usually binding, meaning that the parties must adhere to it, which emphasizes their role as a neutral party making a fair determination rather than one that takes sides.

In this context, an arbitrator's unbiased stance is crucial for ensuring that both parties feel confident that their case is being evaluated fairly, which is foundational to the arbitration process. On the other hand, mediators play a different role by facilitating conversations and helping parties reach a mutual agreement, but they do not have the authority to make binding decisions, which distinguishes them from arbitrators.