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Mediation
Arbitration
Arbitration
Mediation is available to resolve disputes in such diverse areas as accidents, banking, finance and commerce, consumer contracts, insurance, leases, real estate, marine, and transportation. Mediation is recommended by Judges and Lawyers as an alternative to litigation. In many cases, through mediation, the parties reach agreement, thus saving themselves emotional and financial costs. Mediation is a first step and a singular way of reaching a mutually acceptable settlement. If agreement cannot be achieved, the parties still can take other action such as arbitration or other legal proceedings. Mediation is faster given that the process can begin immediately whereas disputes settled in court often take years. Mediation is private and confidential in that you do not have to reveal your personal concerns unlike proceedings in an open court of law where the public is invited to attend and witness the proceedings. Mediation costs less than traditional litigation. If both parties want to reach a settlement through mediation, the skill of the mediator can help them reach a solution in a short time. Mediation can create good will in that a mutually acceptable solution to a dispute lets both parties be winners and respect each other.
Arbitration
Arbitration
Arbitration
Arbitration is a process whereby parties in dispute refer their disagreement to a mutually acceptable, knowledgeable, independent third party - an arbitrator - agreeing in advance to be bound by the arbitrator's decision. Some disputes can only be settled by litigation. Many can be settled by arbitration, with significant benefits. The advantages can include the following. *Arbitration is faster in that disputes tried in court can take many years. With arbitration, these disputes can be settled in months. * You get to choose your arbitrator, unlike Court.* Arbitration is private in that Courts are public forums and information about your business and personal affairs becomes public knowledge - available to competitors and others you might not wish to have such information. Arbitration proceedings, however, are almost always conducted in private - and only made public with the consent of both parties in dispute.* Arbitration costs less. It is significantly less costly than litigation. It can make a difference of thousands of dollars to the parties. * Arbitration can maintain goodwill. Arbitration, by its very nature, is less likely than litigation to result in ill will between the parties involved. It increases the chances of reaching an agreement that will satisfy both parties and allow them to work together in the future.