Mediation & Arbitration
Mediation and arbitration are powerful tools used by lawyers to settle disputes without the use of court action. A mediator facilitates the negotiation process between two parties who voluntarily consenting to find a solution to the problem. A mediator is an independent third party and will assist parties to identify the key issues in dispute and consider options and alternatives to settle the matter. Mediation can be voluntary, court ordered or required as part of a dispute resolution clause in a contract.
Arbitration is a process of dispute resolution and involves the appointment of an independent third party who hears both sides of the dispute and reaches a decision in favour of one party. In a practical sense, arbitration is quite similar to litigation – except that arbitrations are conducted outside of court. Unlike mediation, arbitration has a more structured and formal process. Although the arbitration is very similar to litigation, arbitration offers a more flexible and efficient process. It can often be finalised in a much shorter time frame than litigation.