What Is The Difference Between Mediation And Arbitration
For several people, going to a court to settle the dispute is not a favorable option.
Several people settle for arbitration as it is cheaper and hassle free option. A formal hearing in the court can be an extremely time consuming process. Also, the judge’s jury may always not be favorable.There are two ways which are popular to settle disputes these days and they are mediation and arbitration. Mediation and arbitration are two different methods, but both have the same goal actually and that is to settle the dispute.
Mediation is a process in which a third party is used to act as a guide and a negotiator. The third party can be a group of people or a single person. Also, it is not required that this person has to be from the legal system. There are several independent legal firms offering mediation as one of their services. Mediators are, however, trained to hear both the parties and settle the dispute. Also, in mediation, the mediator will visit both the parties for discussions. However, it is legally required that a mediator gives unbiased opinion or judgment.
On the other hand, arbitration is a formal case hearing process where a judicial person hears the cases and gives judgment. In the arbitration process, both the parties sit face to face and discuss the dispute. The arbitrator can also question both the parties if required for the case. Witnesses are allowed to testify for the case. Arbitration is a legal settlement decided out of court most of the times.
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