Alternative Dispute Resolution
In a business meeting like setting, the goals of mediation may include not only resolving the parties’ dispute, but also preserving their relationship, managing and minimizing the costs and burdens of the dispute, and addressing the underlying issues that may have given rise to the dispute, so that future disputes may be avoided.
In arbitration, the arbitrator (as a single arbitrator or a panel of three arbitrators) holds a private trial of the issues.
At the conclusion of the evidence and after deliberation, the arbitrator(s) issue(s) an award, which is final.
Mediation is a process to facilitate resolution of disputes between two or more parties. It is a three-step process in its simplest terms:
- First: Facilitate dialogue to assist the parties in understanding the real problems at hand.
- Second: Facilitate dialogue, imagination, understanding, and reason to come to a solution and resolution that all parties are willing to accept.
- Third: Document the conclusion accepted in an enforceable contract.