What is the term for binding dispute resolution in construction projects?

The term that best fits the description of binding dispute resolution in construction projects is arbitration/litigation. Arbitration is a process where disputes are resolved by one or more arbitrators who make a binding decision on the matter. This means that the outcome is enforced by law, and both parties agree to abide by the arbitrator's ruling. Litigation, on the other hand, involves resolving disputes through court proceedings, which also results in binding decisions subject to legal enforcement.

Arbitration is often preferred in construction contracts because it can provide a more streamlined, quicker, and less formal process than traditional courtroom litigation. It allows parties to select arbitrators with specific expertise in construction and contract law, which can lead to more informed decisions regarding the issues at hand.

Mediation, in contrast, is a non-binding dispute resolution process where a neutral third party helps facilitate negotiation between the parties to reach a mutually acceptable agreement, but it does not involve a binding decision. Constructive acceleration and differing site conditions are specific terms related to contract claims and project management but do not pertain to formal dispute resolution methods.