Get Form Tadr 2011-2024

Arbitration is known for quicker resolutions, often wrapping up within a few months. Litigation, on the other hand, can stretch over years due to court schedules and the multiple stages involved, including discovery and trial.

Comparison Between Arbitration & Mediation Arbitrator determines the outcome. Parties decide outcome, Mediator does not have the power to decide. Final and binding decision. For a list of terms and their meanings, please refer to the Dispute Resolution Glossary.

In a mediation process, a neutral, trained mediator works to help disputants come to a consensus on their own. In arbitration, a neutral, trained arbitrator serves as a judge who is responsible for resolving the dispute.

Arbitration clauses are included in a contract before a dispute arises, while settlement agreements are reached after a dispute has arisen.

Mediation involves the intervention of a third person, or mediator, into a dispute to assist the parties in negotiating jointly acceptable resolution of issues in conflict. The mediator meets with the parties at a neutral location where the parties can discuss the dispute and explore a variety of solutions.

In arbitration the arbitrator decides on the outcome of the dispute after hearing both sides. The resolution is called award. Award is final and legally binding. The result of negotiation is called memorandum of agreement.