Mediation / Arbitration: A Hybrid Approach
If you are going through a separation or divorce, Mediation / Arbitration may be the right dispute resolution option for you. This unique hybrid approach allows you to combine the benefits of these two processes into a two-step approach. Read on to find out more about this hybrid approach, including the benefits and drawbacks.
What Is Mediation / Arbitration
Mediation / Arbitration is a process of dispute resolution in which parties to a conflict agree to refer their matter to a trained, impartial, neutral third party. The parties first attempt to resolve their issues in an amicable matter. In the event, they are unable to reach a mutually agreeable resolution with the assistance of the neutral third party then there is a hearing conducted and a binding decision is rendered. The Mediation/ Arbitration process allows you to attempt to implement the advantages of mediation (such as maintaining control over the result and being creative with resolutions) while addressing the disadvantages of both mediation (such as there being no guarantee of a resolution) and litigation (such as massive delay and extensive legal fees).
Advantageous and Drawbacks of Mediation / Arbitration
- EFFICIENCY – Mediation / Arbitration can be commenced within a relatively short period of time. It’s possible for resolution to be achieved between one and five sessions, depending on the complexity of the situation.
- COST – Mediation / Arbitration can be very cost effective, this is especially true in comparison to litigation or arbitration proceedings.
- CONTROL OF THE RESULT – In mediation there is no final resolution until both parties agree to an outcome. As such, no third-party justice or arbitrator can impose a resolution on you in the mediation process, however, with a hybrid Mediation / Arbitration approach you have a;
- GUARANTEED RESULT – In the Arbitration, an independent third-party will render a decision, as such, there is a guarantee that you will end your dispute in a relatively timely manner.
The main disadvantage of arbitration is that it is only available if both parties agree and sign a Mediation/ Arbitration Agreement binding them to the process.
A Hybrid Approach To Dispute Resolution
Finally, it is important to note that this option is a hybrid process that consists of two separate and distinct phases. The first of which provides parties with an opportunity to reach a mutually agreeable resolution to their dispute. The second phase occurs only in the event the first is unsuccessful and is essentially a private trial in which a binding decision is rendered by a neutral third party.
If you are considering Mediation / Arbitration, or have questions regarding dispute resolution options. Connect with us to set up an initial consultation.