ARBITRATION | ARBITRATION FAQ

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What Is Difference Between Mediation And Arbitration?

Mediation or Arbitration | Voluntary Dispute Resolution

 

Mediation is a voluntary alternative dispute resolution process. All parties must consent to participate in good faith and work toward a mutually agreeable resolution. Mediating parties are not bound to resolve their dispute. However once a resolution is reached, it can be made binding if the parties decide to draft a contract called a settlement agreement. Mediation are not “decided” in favor of one party or another; rather, the mediator simply facilitates then negotiation process. The parties decide their own outcome.

 

Mediation or Arbitration | Voluntary Dispute Resolution. Arbitration is a non-voluntary alternative dispute resolution process. Unlike mediation, a knowledgeable, independent, and impartial third party is empowered to make a decision. The arbitrator hears the disagreement between one or more parties and after considering all relevant information renders a final decision in favor of one of the parties. Arbitration decisions may be either binding or non-binding,depending on the terms of the arbitration agreement. Binding arbitration decisions may be confirmed by a court and carry the same significance as a court judgment.

 

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