An arbitration which is mandatorily imposed on the parties by operation of a particular law or statute, applicable to them, is known as:
Answer & explanation
Correct answer: option 1
Statutory Arbitration - An arbitration which is mandatorily imposed on the
parties by operation of a particular law or statute, applicable to them. For
example, the Defence of India Act, 1971 is one such legislation that mandates a
recourse to arbitration in case of any dispute arising within the Act.