What term is used for bringing two conflicting parties together to resolve their differences, typically involving a third party?

The term that specifically refers to bringing two conflicting parties together to resolve their differences, typically with the assistance of a third party, is mediation. Mediation involves a neutral mediator who facilitates discussions and helps the parties reach a mutually acceptable solution without imposing a decision. This process encourages communication and collaboration while ensuring that each party has the opportunity to express their views and needs.

Conciliation, on the other hand, while also involving a third party, usually connotes a more active role by the conciliator, who may suggest solutions. Arbitration involves a third party making a binding decision on a dispute after hearing from both sides, which is quite different from mediation's collaborative approach. Negotiation involves direct discussion between the parties themselves, without necessarily involving a third party to facilitate the process. Therefore, mediation is the correct term that aligns with the definition provided in the question.