MEDIATION &

ARBITRATION

The twenty-first century has witnessed a remarkable rise in the use of mediation and arbitration to resolve disagreements and disputes between individuals and/or companies. This is most likely attributable to a growing recognition that mediation and arbitration possesses benefits that cannot be achieved by submitting disputes for determination by a third-party fact-finder. The widely acknowledged  benefits include financial economy, efficiency, customization, empowerment,  and mutual satisfaction.

  • Mediation consists of an informal attempt to resolve cases through use of an impartial third party who employs his or her powers of persuasion in a considerate attempt to motivate the parties toward a mutual agreement. Mediation can occur at almost any time during the progress of a dispute whenever the parties have acquired sufficient facts to be able to evaluate their respective positions without being influenced by emotion.  Naturally the sooner this occurs the less costly the dispute becomes and the more efficient the resolution is. 
    Mediation enables the parties to achieve a resolution that fits their particular or specific needs or objectives.  This empowers the parties far beyond what can be achieved in front of a judge or jury and leads to satisfaction for both sides.

  • Arbitration consists of the parties agreeing to submit their case to a third party who acts in the capacity of an independent judge, who listens to the testimony, reviews the documents and issues a binding decision.

BENEFITS OF MEDIATION

  • Cost: Mediation is generally less expensive when contrasted to the expense of litigation.

  • Speed: Mediation provides a more timely way of resolving disputes.

  • Satisfactory Outcomes: Parties are generally more satisfied with solutions that have been mutually agreed upon, as opposed to solutions that are imposed by a third party decision-maker. Interest-based mediated negotiations can result in settlements that are more satisfactory to all parties than simple compromise decisions.  

  • Compliance: Parties who have reached their own agreement in mediation are generally more likely to follow through and comply with its terms than those whose resolution has been imposed by a third party decision-maker. Since mediated settlements can address both legal and extra-legal issues, the parties are able to tailor their settlement to their particular situation. 

  • Control & Predictability of Outcome: Parties who negotiate their own settlements have more control over the outcome of their dispute. 

  • Ongoing Relationships: A mediated settlement can often preserve a working relationship in ways that would not be possible in a win/lose decision-making procedure. Mediation can also make the termination of a relationship more amicable. 

  • Decisions that Hold Up Over Time: Mediated settlements tend to hold up over time, and if a later dispute results, the parties are more likely to utilize a cooperative forum of problem-solving to resolve their differences than to pursue an adversarial approach.

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