Mediation vs. Arbitration
Individually mediation and arbitration are approaches to alternative dispute resolution (ADR). Both are a solution to the costly and time-consuming litigation associated with a protracted court struggle. While mediation and arbitration are similar in that they bring parties in disagreement together outside of the courtroom to address a problem, each has its distinct method.
Arbitration is often more efficient than litigation, as it is faster, less expensive, and allows for greater process and procedural flexibility.
A third, independent party significantly improves chances of dispute resolution, such as dispute resolution boards, mediation, and private adjudication, which are widely used and recommended by experts. But these types of alternative dispute resolution do not offer any binding resolution. So, they may not resolve a dispute in the long term. The legally binding award that arbitration provides is one of its advantages.
Another distinct advantage of arbitration is the freedoms offered to parties to modify the process to meet their own needs, such as limiting discovery. Limiting discovery is one of the most attractive features of arbitration in the United States. In recent times, the temptation to drown one’s opponent in discovery has been a common occurrence. Excessive pleadings and erroneous submissions can occur in arbitration. As skilled arbitrators, we will select and manage discovery to information that is relevant to the dispute.
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