Dispute settlement techniques are viable alternatives to costly and time-consuming litigation. Arbitration and mediation are the most common options.
Mediation is a voluntary practice in which the parties choose a neutral third party to help them in reaching an agreed-upon resolution of the conflict, particularly when the parties intend to continue an ongoing relationship. The parties will not be bound by the decision of such a mediator. As a result, mediation has become an increasingly popular litigation option. It has proven effective in reducing court cases and is a more efficient and cost-effective solution.
Parties who want a disputed mediation should enter into a straightforward pre-mediation contract. Any law firm, including Bregman Moodley Attorneys Inc, can assist with drawing up such a contract. In addition, they can also provide a mediator to oversee the dispute.
On the other hand, arbitration is a process in which the parties mutually designate an unbiased third party to resolve their disagreement in accordance with their legal rights. Arbitration’s most essential aspect is its consensual base, which makes it an extremely flexible procedure. As a result, the parties can tailor the process to the nature of the dispute and the amount at risk.
The Arbitration Foundation of Southern Africa is one of several organisations that help arbitrations run smoothly. Typically, arbitration is a binding process with several people chosen to serve as judges in the case.
However, not all disputes are suitable for arbitration and mediation. These include divorce and insolvency proceedings.
The advantage of arbitration and mediation is that parties can choose a time and private venue that suit them. In addition, these processes are informal and allow the parties to be more involved in an effort to reach a resolution.
Read more about Dispute Resolution here.
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If you have any questions relating to arbitration and mediation, please contact us today for assistance.