What is the Difference between Arbitration and Mediation for my Legal Matter?

Arbitration and mediation are both means through which disputes can be settled outside of a traditional court setting.

Mediation is a process that enables parties in a dispute to resolve their differences with the aid of a mediator instead of resorting to a lawsuit. The mediator is neutral third party that has been trained to assist people with the discussion of their differences. Mediators are not like judges and do not decide which party “wins”. The mediator instead helps the parties come to a solution on their own using communication between the parties and helping them focus on the real issues. Mediation permits the parties to have some control over the outcome, even though it doesn’t guarantee a final resolution.

Arbitration, on the other hand, relies on a neutral arbiter to hear the evidence from the parties and render a decision that is binding. Arbitration may be more desirable when the parties require a definitive outcome in a time frame that is often shorter and less expensive than conventional litigation.

To learn how you can leverage these options for your legal matter, contact William Kolb at 401.714.0622.