What is Mediation?Mediation is a process by which an impartial third-party facilitates communication and negotiation and promotes voluntary decision making by the parties to resolve the dispute. Parties are free to proceed with arbitration or legal measures if they are unable to reach a negotiated settlement.
AAA mediators are carefully selected attorneys, retired judges, and experts in various professional and business fields.
Advantages of Mediation:
More Alternatives - As a neutral third-party, the mediator can view the dispute objectively and assist in exploring alternatives which may have not been considered by the parties.
Saves Time - Mediation can be scheduled at an early stage of a dispute, therefore, a settlement can be reached much more quickly than in litigation.
Saves Money - Mediation saves money through reduced legal costs and staff time.
Direct Negotiation - Parties are directly engaged in the negotiation of the settlement.
Protects Business Relationships - Parties enhance the likelihood of continuing their business relationship.
What is Arbitration?Arbitration is the submission of a dispute to one or more impartial persons for a final and binding decision, known as an "award." Importantly, the decision of the arbitrator (Award) is final and enforceable, subject to limited grounds provided by law. International arbitration is supported by international treaties, including the United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
Why the ICDR?ICDR dispute resolution services are flexible, and can be tailored to meet the needs of the parties. Parties are free to choose their procedure, place of resolution, language and other key elements of the process.