Conciliation is where parties, with assistance from a dispute resolution practitioner (the conciliator) discuss issues to reach an agreement. The conciliator is responsible for managing the conciliation process.
The process is similar to mediation. However, a conciliator will provide advice on matters in dispute and options for resolution, but does not make determinations.
Arbitration is where the parties to a dispute present arguments and evidence to a dispute resolution practitioner (the arbitrator). The arbitrator makes binding decisions.