What is mediation in contract disputes?
An example of an AI chatbot conversation about mediation in contract disputes.
What is mediation in contract disputes?
Mediation is a process where a neutral third party helps disputing parties reach a voluntary agreement.
How does mediation differ from arbitration?
Unlike arbitration, where a decision is made by the arbitrator, mediation focuses on facilitating a mutual agreement.
What are the benefits of using mediation?
Benefits include cost-effectiveness, faster resolution, and maintaining relationships between parties.
Is mediation legally binding?
Mediation itself is not legally binding, but any agreement reached can be made binding if formalized in a contract.
How do I prepare for a mediation session?
Prepare by gathering relevant documents, understanding your goals, and being open to compromise.
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