What is Med-Arb?
Mediation and arbitration are two popular and effective methods used to resolve disputes.
Mediation is a method where a neutral Mediator helps parties negotiate the settlement of their dispute. The Mediator has no decision making power. Instead, the Mediator guides and empowers the parties towards finding a solution of their own making.
Arbitration, on the other hand, is a process where a neutral Arbitrator listens to the arguments of both sides and then makes a final and legally binding decision for the parties. In many ways, an Arbitrator has the same powers as a Judge.
While both methods have their own advantages, Med-Arb, which combines both mediation and arbitration, is becoming increasingly popular.
In this blog post, we will discuss the benefits of choosing the combined Med-Arb process to resolve your dispute.
1. Flexibility
Med-Arb allows for the flexibility to switch between mediation and arbitration depending on the progress of the dispute. If the parties get stuck in mediation and are unable to come to an agreement on their own, then the parties can choose to switch to arbitration in order to allow the Arbitrator make a final decision for them. This flexibility can save time and money. It also adds certainty and finality to the process. However the parties still retain the ability to make their own decisions if they are able to come to an agreement through the mediation phase. The parties can also choose to switch back and forth between mediation and arbitration for each individual issue contained within the overall dispute.
2. Confidentiality
Confidentiality is a key aspect of Med-Arb. In Med-Arb, the parties can agree to keep the entire process confidential. This means that anything discussed during the mediation or arbitration process cannot be used in court or in any other proceeding.
3. Control
Med-Arb gives the parties more control over the outcome of their dispute. In mediation, the parties have control over the outcome because they are the ones who negotiate and come to a resolution. In arbitration, the arbitrator makes the final decision, regardless of whether the parties “agree” with that decision or not. However, in Med-Arb, the parties have the option to choose between making a final decision themselves or handing it over to the Arbitrator.
4. Cost-effective
Med-Arb is a significantly more cost-effective option than going to court, and can also be less expensive than using arbitration alone. This is because the process is more streamlined. As a result, the parties can avoid lengthy legal battles that can be incredibly expensive.
5. Speed
Med-Arb can be completed in a shorter amount of time than either traditional arbitration or courtroom litigation. By combining both the mediation and arbitration processes, parties can reach a resolution in just days or weeks, instead of years.
In conclusion, Med-Arb can be a highly effective method to resolve disputes. It offers flexibility, confidentiality, control, cost-effectiveness, and speed.
If you are considering Med-Arb as an option for your legal dispute, it is important to consult with an experienced mediator and arbitrator who can guide you through the process. The highly trained and experienced mediators and arbitrators at ClearView Conflict Resolution are here to help.