If the parties have not resolved their controversy by the end of the 45-day period, they may jointly agree to an arbitration procedure that will result in a binding determination of their controversy. Such determinations are subject to review by the Superior Court in the manner specified by section 972.

If they do not jointly agree to such an arbitration procedure within 10 days after the end of the 45-day period, then either party may, by written notice to the other, request that their differences be submitted to a board of 3 arbitrators.__The bargaining agent and the public employer shall within 5 days of such request each select and name one arbitrator and shall immediately thereafter notify each other in writing of the name and address of the person so selected. The first 2 arbitrators so selected and named shall, within 10 days from such request, agree upon and select and name a neutral arbitrator.__If either party does not select its arbitrator or if the 2 arbitrators fail to agree upon, select and name a neutral arbitrator within the 10 days, either party may request the American Arbitration Association to utilize its procedures for the selection of the neutral arbitrator.__As soon as possible after receipt of that request, the neutral arbitrator must be selected in accordance with rules and procedures prescribed by the American Arbitration Association for making that selection.__The neutral arbitrator so selected will not, without the consent of both parties, be the same person who was selected as mediator pursuant to subsection 2 nor any member of the fact-finding board selected pursuant to subsection 3.__As soon as possible after the selection of the neutral arbitrator, the 3 arbitrators or if either party has not selected its arbitrator, the 2 arbitrators, as the case may be, shall meet with the parties or their representatives, or both, forthwith, either jointly or separately, make inquiries and investigations, hold hearings, or take such other steps as they consider appropriate.__If the neutral arbitrator is selected by utilizing the procedures of the American Arbitration Association, the arbitration proceedings must be conducted in accordance with the rules and procedures of the American Arbitration Association.__The hearing must be informal, and the rules of evidence prevailing in judicial proceedings are not binding. All