Conciliation and arbitration are two kinds of settlements of international disputes. What`s the relationship and difference between these two kinds of methods? We can say that conciliation is a part of arbitration, conciliation may include arbitration. These two methods are alike but different. For conciliation, the parties are states. While for arbitration, the parties are states and arbitrator. Arbitration is more formal than conciliation. 

 

Question:

What are the differences between arbitration and conciliation?