Assertion (A): Mediation is more formal than arbitration or litigation but less formal than negotiation.
Reasoning (R): Unlike litigation and similar to arbitration, mediation is relatively inexpensive, fast, and confidential.
Answer & explanation
Correct answer: option 4
Mediation is more formal than negotiation but less formal than arbitration or litigation. Unlike litigation and similar to arbitration, mediation is relatively inexpensive, fast, and confidential.