mediation and arbitration
What is Mediation and Arbitration?
Mediation and arbitration can help parties solve serious conflicts without the expense and hassle of litigation.
What’s the difference between mediation and arbitration? In a mediation process, a neutral, trained mediator works to help disputants come to a consensus on their own. In arbitration, a neutral, trained arbitrator serves as a judge who is responsible for resolving the dispute.
Mediation is appealing because it allows parties to reach a collaborative settlement, but it could end in impasse. Arbitration, on the other hand, can wrap up a dispute conclusively, but it doesn’t give disputants much say in the outcome.
A hybrid approach called med-arb combines the benefits of both mediation and arbitration techniques.
In this mediation and arbitration hybrid, parties first attempt to collaborate on an agreement with the help of a mediator. If the mediation ends in impasse, or if issues remain unresolved, the parties can then move on to arbitration.
The mediator can assume the role of arbitrator (if qualified) and render a binding decision quickly, or an arbitrator can take over the case after consulting with the mediator.
If you are considering med-arb (or arb-med), or if another party has recommended it to you, weigh the potential benefits and concerns carefully. Med-arb has a proven ability to get disputes resolved relatively quickly and amicably, but making a single choice between mediation and arbitration is often be sufficient to meet your needs.
To learn more about mediation, claim your FREE copy of Mediation Secrets for Better Business Negotiations: Top Techniques from Mediation Training Experts. In this free special report, the editors of Negotiation provide you with insights into why mediation is the preferred method of dispute resolution for most managers. Throughout the report, you will discover how to select the right mediator, come to understand the mediation process, and learn how to engage the mediator to ensure a good outcome.
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