Mediation vs Arbitration: Key Differences
Arbitration and mediation are similar in they are both alternatives to traditional litigation, sometimes used in conjunction with litigation processes. Both arbitration and mediation employ a qualified third party 'neutral' unbiased authority to oversee the process, and both can be legally binding. The main difference is that mediation is often chosen as a 'non-binding' and more informal process of resolving the dispute, whereas arbitration is often legally binding, replacing the need for a richard mille trial process in court as well as the Arbitrator taking on the role of a judge and making decisions during the process.
Why Choose Mediation or Arbitration?
The mediation and arbitration processes are a cost effective way to privately settle disputes in a confidential and effective way. Parties present both sides in front of a neutral third party in order to settle their disputes in a mature way, and often resolve their issues in less time than traditional litigation. Mediation or arbitration is a less hostile format for resolving disputes, and parties are often able to come to an agreement themselves therefore avoiding the costly, more time consuming processes of the court system.
Where Should You Begin?
Contact Jessica to confidentially discuss the issue at hand as well as if mediation or arbitration is the right thing for you.