February 22nd, 2021

​𝗦𝗼𝗹𝘃𝗶𝗻𝗴 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗗𝗶𝘀𝗽𝘂𝘁𝗲𝘀

According the CEDR Mediation audit – 10,000 commercial mediations were performed in 2016, an increase of 5%. There is trend to solve disputes as smoothly as possible. Business disputes raise concerns about the cost of litigation, loss of reputation and loss of time and energy.
Here are some tips to help you solve business disputes.
𝗖𝗵𝗼𝗼𝘀𝗲 𝘆𝗼𝘂𝗿 𝗹𝗲𝗴𝗮𝗹 𝗽𝗿𝗼𝗱𝗲𝗲𝗱𝗶𝗻𝗴𝘀
The procedure and results depends on which approach you choose. Before you go with one or the other, look to your dispute resolution clause. Often this clause requires resolving conflict by mediation or binding arbitration. Mediation and arbitration are two different collaborative practices. These alternatives are faster and cheaper than going to court.
𝗠𝗲𝗱𝗶𝗮𝘁𝗶𝗼𝗻
In the event you choose mediation, an independent third party helps you to come to a mutually acceptable settlement. The mediator has no authority to make a binding decision, their only duty is to help parties come to a resolution they can agree on.
Mediation is the most popular procedure. Why? It gives you the most control with a better chance to come to an amicable solution. In contrast, once you choose arbitration or litigation, it is up to the judge or the arbitrator to decide and they are empowered to impose a decision.
𝗔𝗿𝗯𝗶𝘁𝗿𝗮𝘁𝗶𝗼𝗻
If you pursue arbitration, an independent third party will consider the facts and make a binding decision. If mediation does not enable you to resolve the dispute and you do not wish to choose arbitration, your last option is:
𝗟𝗶𝘁𝗶𝗴𝗮𝘁𝗶𝗼𝗻
My advice would be to only take a dispute to court as a last resort. Why? It may result in a leak of important information for public viewing, it is expensive and it is often a very long road.