What is Mediation?
Primarily, mediation is a forum that enables the parties entrenched in a commercial dispute to enter into dialogue with one another in a cordial manner in a semi-structured way to allow the exchange of information, with a genuine attempt to reach a satisfactory resolution.
Mediation is detached from the formalities of a court-room or tribunal and allows the parties engaged in the dispute to utilise the assistance of an independent third-party to attempt to resolve their dispute. This person is known as a ‘Mediator’
What is a Mediator?
A Mediator is there to assist the parties who are ‘stuck’ in their dialogue with each other and where possible assist in resolving their dispute.
In the true sense of the word, mediation requires a person outside of the court or arbitration process to be mutually appointed by the parties to a dispute with a view to allowing them to reach an amicable resolution through facilitated discussions.
What are the benefits of mediation?
Mediation is an extremely flexible tool, with timings, location and the form in which it is carried out generally within the control of the parties to the dispute. It is often significantly quicker and cheaper than other forms of dispute resolution. It is a confidential process and the Parties have the ability to agree between themselves the terms of any agreement.
Why should you consider Mediation as a form of Alternative Dispute Resolution?
Litigation is a formal, time-consuming and expensive exercise for the litigants. Mediation is fast becoming the favourable alternative dispute resolution method given the flexibility and informality of the process. It may be that Parties opt for mediation as a result of remaining very much in control of the process. It is also typically the quickest and least expensive way to resolve disputes, which clearly contributes to its increasing prevalence.
Commercial litigation is typified as a ‘cut and thrust’ approach, as time is money and litigants are keen to finalise any dispute rapidly to avoid the time and costs consequences of delay, and as a consequence, they are more result orientated, hence why Mediation should be always considered.
By Adam P Cohen (Solicitor and Accredited Mediator)
