What is the difference between arbitration and mediation?
An example of an AI chatbot conversation about arbitration and mediation differences.
Can you explain the difference between arbitration and mediation?
Sure! Arbitration is a process where a neutral third party makes a binding decision, while mediation involves a facilitator helping parties reach a mutual agreement.
Which one is usually faster?
Mediation is generally faster because it focuses on negotiation and collaboration, whereas arbitration can take longer due to formal procedures.
Are the decisions in arbitration legally binding?
Yes, the decisions made in arbitration are legally binding and enforceable in court, unlike mediation outcomes which are not binding unless agreed upon.
Can you give me an example of when to use each?
Certainly! Use mediation for disputes where parties want to maintain relationships, and arbitration for conflicts needing a definitive resolution.
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