Alternative dispute resolution has proven to be popular in the commercial world, with two of the most common forms being mediation and arbitration. In this article, we will outline the key differences between mediation and arbitration.
Mediation is a voluntary, confidential process whereby two or more parties agree to sit down and attempt to resolve their differences in an informal setting. There is no obligation to reach an agreement and sometimes, mediation can take multiple sessions to reach an agreement which may have never been achieved in a Court setting. Employment mediation is no different!
If a mediation is to be successful, it requires some transparency on the part of all parties. The difficulty is knowing how much information to share in a mediation, without compromising your own position, as Samuel Ellemor, (Accredited Specialist (Workplace Relations) explains.
After hours of discussion, you have reached an agreement with the other side. Now the question is; how do you ensure the settlement agreement is binding? Samuel Ellemor, Accredited Specialist (Workplace Relations) offers some tips for preparing Settlement Agreements.
Mediation is different from other resolution processes, such as arbitration or litigation. Mediation involves the parties conducting confidential negotiations, with the assistance of a mediator, in an attempt to reach an agreed settlement of the dispute. The mediator does not make a decision about your case or dispute. Instead, the mediator's role is to facilitate the negotiations.
A Mediator facilitates the disputing parties to reach an agreement. To do this effectively, the Mediator needs to understand the position of both parties. Each party will enter a Mediation Agreement with the Mediator in which the Mediator promises to keep each party's information confidential. We list some things to keep in mind.
Prior to commencing court proceedings, a dispute should be mediated if at all possible, in order to save significant expense and worry. Even if you do commence legal proceedings, a Court will require you to attempt to resolve the dispute at mediation before proceeding to a final hearing.
Arbitration is increasing in popularity as a pathway to dispute resolution, and many business contracts include a clause which requires all disputes to be resolved by arbitration. Additionally, you can save thousands of dollars, as well as many days of valuable time by using arbitration instead of going to Court. Our Commercial Law Team explains.
