Mediation is a process in which a neutral person-the mediator-helps parties reach a settlement to their dispute by opening lines of communication, objectively evaluating the case, identifying parties’ real needs and finding a solution to address those needs.
The mediator does not have the authority to make a binding decision, unlike the arbitration process, in which the arbitrator renders a decision that is final and binding. In mediation, the parties involved in a dispute work together to come to a mutually beneficial decision. This method allows the parties to maintain positive business relationships while having their needs met in a cost-effective, convenient, and confidential manner.
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