; and (ii) providing the list to the parties. (B) Selection of arbitrators by parties Not later than 10 days after receiving a list of names under subparagraph (A), the parties shall each select one arbitrator. The arbitrators selected by the parties do not need to be arbitrators whose names appear on the list. (C) Selection of third arbitrator Not later than 7 days after the date on which the 2 arbitrators are selected by the parties under subparagraph (B), the 2 arbitrators, acting jointly, shall select a third person from the list prepared under subparagraph (A). (D) Failure to act If either of the parties fails to select a person or if the 2 arbitrators are unable to agree on the third person in 7 days, the parties shall make the selection by alternately striking names on the list prepared under subparagraph (A), beginning with the party chosen on a random basis, until one arbitrator remains. (3) Framing issues in controversy If the parties do not agree on the framing of the issues to be submitted for arbitration, the arbitration board shall frame the issues. (4) Hearings The arbitration board shall give the parties a full and fair hearing, including an opportunity to present evidence and witnesses in support of their claims and an opportunity to present their case in person, by counsel, or by other representative as they may elect. (5) Decisions The arbitration board shall render its written decision not later than 90 days after the date of its appointment. Decisions of the arbitration board shall be conclusive and binding upon the parties. (6) Evidence The arbitration board shall consider and afford the proper weight to all of the evidence presented by the parties. (7) Costs The parties shall share costs of the arbitration equally. (c) Ratification of agreements Upon reaching a voluntary agreement or at the conclusion of the binding arbitration under subsection (b), the final agreement, except for those matters decided by a private arbitration board, shall be— (1) subject to ratification by the exclusive