the parties and use best efforts, by mediation and conciliation, to bring them to agreement. (4) Tripartite arbitration panel (A) In general If the Director of the Federal Mediation and Conciliation Service is not able to bring the parties to agreement by mediation or conciliation before the date that is 30 days after the date on which such mediation or conciliation is commenced, or any later date agreed upon by both parties, the Director of the Federal Mediation and Conciliation Service shall refer the dispute to a tripartite arbitration panel established in accordance with such regulations as may be prescribed by the Director of the Federal Mediation and Conciliation Service, with one member selected by the labor organization, one member selected by the Civilian Climate Corps, and one neutral member mutually agreed to by the parties. (B) Dispute settlement A majority of the tripartite arbitration panel shall render a decision settling the dispute and such decision shall be binding upon the parties for a period of 2 years, unless amended during such period by written consent of the parties. Such decision shall be based on— (i) the financial status and prospects of the Civilian Climate Corps