How is arbitration like mediation?
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How is arbitration like mediation?
Arbitration and mediation are similar in that they are alternatives to traditional litigation, and sometimes they are used in conjunction with litigation (opposing parties may first try to negotiate, and if that fails, move forward to trial).
Is there a difference between arbitration and mediation?
In an arbitration, the arbitrator looks into the legal rights and wrongs of a dispute and makes a decision. In a mediation, the mediator, essentially, helps parties to settle their disputes by a process of discussion and narrowing differences. The mediator helps the parties to arrive at an agreed solution.
What is difference between negotiation arbitration and mediation?
Negotiation and Mediation is less expensive and less time consuming than the Court action. An agreement is encouraged but the parties are free to pursue other processes if they cannot reach an agreement. Arbitration refers to the process where the decision is made by a third party.
