16. In international trade dispute resolution, which of the following statements regarding mediation and arbitration is incorrect? (A) Mediation is conducted by a third party who assists both parties in reaching an agreement, and it is usually non-binding. (B) Arbitration occurs when both parties agree to have an arbitration institution or arbitrator make a decision, and the award is legally binding. (C) In arbitration proceedings, the parties cannot choose the arbitrator or arbitration institution, and the court must appoint them. (D) Mediation can help both parties resolve disputes quickly and save litigation costs.