(a) Section 63 of the Employment Relations Act provides as follows:

"The parties to a labour dispute may jointly refer such dispute for voluntary arbitration to the Tribunal or to an arbitrator appointed by them."

What are the advantages and disadvantages of arbitration?

(b) Section 68(1) of the Employment Relations Act provides as follows:

"Notwithstanding this Act, the Supervising Officer may provide a conciliation service with a view to conciliating the parties to a dispute not yet reported to the President of the Commission."

What is the meaning of conciliation? Is it an effective method to resolve disputes?