The parties negotiate directly, each with the assistance of an expert in their dispute. The experts can advise them, and guide them, towards an agreement. This procedure allows a formal presentation of each side's case to the other. Those with authority to settle attend. An expert presides, and assists the parties to clarify the issues.
Understanding often leads to settlement.
They usually agree to accept that opinion as binding. A familiar case is the fixing of a rental by a valuer, when the landlord and tenant cannot agree. There is no reason why the procedure should not be applied to resolve many other differences. It should be quick, certain, final, and relatively inexpensive. There are standard agreements for those wishing to retain an expert.