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Mediation
is where a neutral individual helps parties reach a voluntary settlement
of their dispute. The Mediator cannot force parties to settle or make a
binding decision for the parties.
Arbitration
is where a neutral individual renders a decision after hearing testimony,
arguments and reviewing evidence submitted by the parties. The Arbitrator
acts like a Judge in a traditional court proceeding and rules how the
dispute should be resolved.
Arbitration
can be binding or non-binding based on the parties’ agreement. If
non-binding, the parties can use the Arbitrator’s decision to guide them
in deciding whether to settle or proceed to litigation. If binding, the
parties can enroll the ruling in court to enforce it.
In many
circumstances, Mediation or Arbitration is a less costly and less time
consuming alternative to court proceedings.
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