What is the difference between arbitration and mediation?

Arbitration and mediation are both forms of alternative dispute resolution (ADR) law. They are both cost-effective alternatives to resolving disputes outside of the court system. The most significant difference between arbitration and mediation is who makes the final decision. In arbitration, a third-party arbitrator makes the final decision, while in mediation, the parties to the dispute make their own agreement. In arbitration, the arbitrator hears both sides of the dispute and then renders a legally binding decision. The decision of the arbitrator is final and cannot be appealed. Mediation, on the other hand, involves the parties to the dispute working with a neutral third-party mediator to reach their own agreement. The mediator does not make a decision, but rather helps the parties to resolve the dispute on their own. The other major difference between arbitration and mediation is the time it takes to reach a resolution. Arbitration is typically faster than mediation since the arbitrator makes a decision quickly. In contrast, mediation usually takes longer as the parties need to reach an agreement on their own. In conclusion, the main difference between arbitration and mediation is who makes the final decision and the time it takes to reach a resolution. While both forms of ADR law are cost effective and provide a way to resolve disputes outside of the court system, the parties should carefully consider the advantages and disadvantages of each option before deciding which one to use.

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What is the difference between arbitration and mediation?

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