This stands for mediation/arbitration. You have a mediation in the normal way. If a settlement agreement is not signed you proceed immediately to an arbitration. Usually, the same person acts as both mediator and arbitrator.
Sometimes a different person acts as arbitrator. The arbitration is conducted in the normal way and finishes with an arbitral award. The advantage of med /arb is that everyone knows when they start the mediation that there will be a binding conclusion at the end of the process even if settlement is not reached at the mediation stage. If the same person acts as mediator and arbitrator there is a saving in time and costs.
This stands for Mediation After Last Offer Arbitration. You mediate in the usual way. If you cannot reach a concluded settlement, you each submit in writing your last best and final offer which you think is the most reasonable proposal. The mediator, having heard from everyone during the mediation, now acts as an arbitrator and chooses one of the offers. That is all the arbitrator does. The offer that is chosen is incorporated into an arbitral award.
This stands for arbitration/mediation. It is the other way round from med/arb.The arbitration is conducted in the normal way. It is concluded. The arbitrator makes their award but does not publish it. It is placed in a sealed envelope and kept by the arbitrator.
You conduct a mediation in the usual way. The same person who acted as arbitrator acts as mediator. If you conclude a settlement through the mediation, there is a binding settlement agreement. The arbitrator never publishes their award. If there is no settlement the arbitrator publishes the award.