All About Alternative Dispute Resolution
Resolved business disputes can be a long process and frustrating. Although there are a number of benefits related to using litigation as a safe way to resolve your dispute, it is not always the best way to resolve disputes.
The litigation process can be very expensive and time-consuming. For those who deal with small disputes but it seems unbreakable, or for those who have a large source of money, reconciliation through ADR can be easier to achieve. There are some companies like stat11 inc., that provide the best ADR services in Canada.
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ADR generally looks cheaper and faster than litigation. Most often, related parties are also given confidentiality. In general, decisions made during the ADR process are legally binding.
In general, there are two forms of alternative dispute resolution: mediation and arbitration. Other options such as general law and arbitration are available but are less used. The negotiation process is another available option, but because there is no third party involvement as in other elections.
There are three parties involved in the mediation process – both are involved in disputes and outsiders who facilitate discussions and prevent increased tension. During this process, the three representatives sat in front of the courtroom to discuss differences and work together to find a solution without going through the court process.
Third parties, also known as mediators, have no effect on the results of the ADR process. The only goal of this person is to help two disputed parties to communicate effectively and find solutions. It's up to them to find a fair deal.
Arbitration is similar to mediation, although there are some significant differences. Regarding mediation, the disputing parties sat in front of the courtroom with an external third party – this time known as an arbitrator.
The referee listens to the stories of both parties, taking the time to investigate the situation in detail and determine fair results. Both parties entered the arbitration knowing that they would not determine the appreciation and agree to accept whatever the arbitrators decided.