What is mediation and arbitration?

Can you explain what mediation and arbitration are?

Sure! Mediation is a process where a neutral third party helps disputing parties reach a voluntary agreement. Arbitration, on the other hand, involves a neutral third party making a binding decision after hearing both sides.

What are the main differences between mediation and arbitration?

The main difference is that mediation is collaborative and non-binding, while arbitration is more formal and results in a binding decision.

When should I choose mediation over arbitration?

You should choose mediation when you want to maintain control over the outcome and preserve relationships. It's less adversarial.

Are there any situations where arbitration is preferred?

Yes, arbitration is preferred in situations where a quick resolution is needed, or when parties want a definitive ruling without going to court.