Highlights of the Key Differences between Mediation and Arbitration
Most students know the term litigation, but few actually understand the meaning and approach to litigation in courts. Likewise, the sense and difference of the two confusing words Arbitration and Mediation is known to few. But Arbitration & Mediation assignment help from 24x7assignmenthelp.com will explain you details.
What is Mediation?
- It is an informal process.
- Mediator or an impartial third party helps disputing parties to reach a satisfactory mutual solution.
- Process of mediation is to guide parties towards a mutually agreeable settlement.
- Interests and concerns of the included parties are kept in mind while encouraging parties to compromise.
- This is a well-suited solution for the parties who are still interested in negotiations.
What is Arbitration?
- This process is carried on outside public judicial systems.
- In this method, the two disputing parties seek for an impartial party to act as judge or jury, to resolve their issue.
- It is a simple process as it does not include complications.
- Arbitrators don’t follow same procedures as court judges, so they decide on weight of evidence.
- After weighing the evidence in an unbiased manner, the arbitrators decide who wins the case.
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Key difference points to consider in Arbitration & Mediation homework help:
- Arbitrators control the outcome.
- An arbitrator has the power to decide.
- Requirement of extensive discovery.
- After listening to facts and evidence, the arbitrator decides.
- Parties present case and testify under oath.
- Attorneys control party participation. Hence, the procedure is formal.
- Arbitrator does not participate in the personal hearing.
- The final decision of arbitrator is solely based on facts, evidence, and law.
- Results are winning or lose. Relationships are often lost among the parties.
- Less expensive than traditional litigation, but more that Mediation.
- Decisions are publicly available but held privately.
- Expedited negotiation.
- The outcome is controlled by parties.
- Mediator does not have power to decide. The parties reach to an agreeable settlement.
- Parties exchange information that will assist in reaching a resolution. Information exchange is voluntary and limited.
- Mediators define and help the parties to understand their issues and side interests of the settlements.
- Parties tell the story and engage in creative problem-solving.
- The disputed Parties are active participants, so the process is informal.
- Individual parties held joint meetings and counsels.
- The need and side effects of the parties determine outcomes.
- The result is mutually satisfactory. Parties often maintain relationship between them.
- It is less expensive than Arbitration and traditional litigation.
- The procedure is entirely Private and confidential.
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