When parties discuss their dispute with each other and a neutral, third-party facilitator and the third-party facilitator has no power to make a final decision but instead is to guide both parties to a mutually acceptable solution is call:

Mediation

Explanation: Mediation is a conflict resolution ptocess or procedure in which parties discuss issues of dispute with each other and a third party facilitator who should be unbiased and impartial. Such third facilitator doesn't act like a judge or make a pronouncement or order regarding the conflict but rather offers advise and guide the conflicting parties in arriving at a mutually acceptable resolution. The Third party facilitator may be an individual or group with certain characteristics such as patience, impartial and good intellectual prowess.