What are the cost differences between mediation and arbitration?

What are the cost differences between mediation and arbitration?

Mediation typically costs less than arbitration. Mediation fees can range from $100 to $300 per hour, while arbitration can range from $200 to $500 per hour.

Are there any additional costs I should consider?

Yes, in arbitration, you may also incur costs for the arbitrator's fees, administrative fees, and possibly legal fees. Mediation may have fewer additional costs.

Which option is generally faster?

Mediation is usually faster, often resolving disputes in a few sessions, while arbitration can take longer due to formal procedures.

Can you give me examples of when to choose one over the other?

Choose mediation for less complex disputes or when you want to maintain relationships. Arbitration is better for more complex issues requiring a binding decision.