What is Mediation?
Mediation, a form of alternative dispute resolution (ADR) or "appropriate dispute resolution", aims to assist two (or more) disputants in reaching an agreement. The parties themselves determine the conditions of any
"arbitral tribunal"), and agree to be bound by the arbitration decision (the "award"). A third party reviews the evidence in the case and imposes a that is legally binding on both sides and enforceable in the courts.
- Wikipedia Encyclopedia .
What is Arbitration?
Arbitration is a form of alternative dispute resolution (ADR), is a technique for the resolution of disputes outside the courts. The parties to a dispute refer it to arbitration by one or more persons (the "arbitrators", "arbiters" or
Mediation and arbitration are inherently efficient and cost-effective processes and, when done properly, can achieve outcomes that attorneys and litigants will respect and appreciate.
settlements reached -- rather than accepting something imposed by a third party. The disputes may involve (as parties) states, organizations, communities, individuals or other representatives with a vested interest in the outcome.
- Wikipedia Encyclopedia
Statistically 95% of all litigated cases resolve prior to trial. Knowing this, there is a strategic time to mediate cases. Sometimes before the lawsuit is even filed!
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