Arbitration and mediation are alternative dispute resolution methods that can be used instead of traditional litigation to resolve legal conflicts.
Arbitration involves appointing a neutral third-party arbitrator who listens to both parties and makes a binding decision that both parties must abide by. It is often used in commercial disputes or international disputes as it can be faster and more cost-effective than going to court.
Mediation, on the other hand, involves a mediator who facilitates discussions between both parties to come to a mutually acceptable agreement. The mediator does not make a decision but rather helps the parties communicate and understand each other’s perspective. Mediation is often used in family law matters, workplace disputes, and community issues.
Both arbitration and mediation are considered more informal and flexible than traditional litigation, and both can provide faster results without the need for a lengthy court battle. They also offer greater privacy as the proceedings are confidential.
Unlike litigation, arbitration and mediation do not involve a judge or jury, which means the parties have greater control over the outcome of the dispute. Additionally, the cost of arbitration and mediation is often lower than the cost of a trial.
Geelong Legal can provide you with expert advice on whether arbitration or mediation may be appropriate for your legal matter. Our Geelong lawyers can guide you through the dispute resolution process and help you achieve a successful outcome.