In the world of business, lawsuits are accepted as a price of playing. But when a legal battle breaks out, the costs can be prohibitive. Tied up in court for years on end, both sides can end up spending a fortune on commercial litigation. If you are looking for the best alternative dispute resolution company visit https://stat11.ca/, you will get some idea about companies and their services.
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What Is It?
ADR is defined as any method of resolving disputes outside of the courtroom. There are no judges, no jurors, and far fewer rules. In other words, it's a simplified version of a trial that gets to the heart of the matter more expeditiously.
A highly informal legal option, mediation is essentially a negotiation process between the two opposing parties. An impartial observer called a mediator listens to both sides then tries to work out an agreement between them.
When Is It Used?
The primary advantage of mediation over other resolution methods is its incredible versatility. The option has been used in a wide range of cases, from juvenile felonies to multi-billion dollar commercial litigation cases.
Much closer to a trial than mediation, arbitration lets lawyers introduce evidence and argue in front of a panel that decides the case. They may not be judges, mind you, but arbitrators do have the authority to write a decision and recommend an arbitrator award.
When Is It Used?
Because it does not depend on the persuasiveness of a mediator to seal the deal, arbitration proceedings are often more expeditious. On average, they tend to last for only a few days, a week at most. Moreover, the arbitration panel only meets for a few hours a day, which keeps legal fees low.