If Caleb is correct that the contract had an arbitration clause, and the clause was valid, which of the following is true? The parties will ask a neutral third party or a panel of experts to hear the dispute and impose a binding resolution. The parties will ask a neutral third party to propose a solution, but this recommendation will not be binding. The parties will attempt to settle their dispute informally, with or without attorneys to represent them. The parties will ask the arbitrator to make an award to one side, either side can ignore the resolution and proceed to court with the matter.