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As with arbitration, mediation also has some drawbacks to consider, including: People who are not comfortable speaking for themselves may find mediation challenging. If there is a power imbalance between the parties, mediation may not be a fair process.

(a) A written agreement to submit any existing controversy to arbitration is valid, enforceable, and irrevocable except upon such grounds as exist at law or in equity for the revocation of any contract.

The main distinction between the two is who makes the final decision. With mediation, the final decision is a reached agreement between the two conflicting parties, while arbitration calls on an arbitrator to analyze the case details and reach a verdict.

An arbitrator can settle a labor-management dispute by rendering a binding decision, while a mediator can only make suggestions and encourage the two sides in a dispute to continue negotiating. A mediator is an impartial third party who encourages both parties in a labor-management dispute to continue negotiating.

Some contracts state that the parties must ?mediate? a dispute before ?litigation? or ?arbitration.? Through mediation, the parties attempt to resolve their dispute with the assistance of a mediator. The mediator is not a decision-maker. Rather, the mediator assists the parties through facilitating a negotiation.

Arbitration agreements require that persons who signed them resolve any disputes by binding arbitration, rather than in court before a judge and/or jury. What is binding arbitration? Binding arbitration involves the submission of a dispute to a neutral party who hears the case and makes a decision.