What are methods of dispute resolution between parties to a contract?

Methods of dispute resolution between parties to a contract are available both inside and outside of the court system. In Louisiana, some of the more common methods used are arbitration, negotiation, and mediation. Arbitration is a process used to resolve a dispute before an impartial third-party arbitrator. This person, who is usually selected by the parties involved in the dispute, will decide the outcome based on the evidence presented by both sides. Although arbitration is binding, it is often preferred because it is a cost-effective and time-efficient option. Negotiation is another method of dispute resolution available to parties in Louisiana. In this process, the parties involved in the dispute negotiate a resolution among themselves. This method is often used because it allows the parties to come to an agreement that both are happy with. Mediation is a process in which a third-party mediator helps two or more parties come to an agreement. A mediator is usually a neutral third party that has no interest in the outcome of the dispute and works to facilitate a compromise that both parties can agree to. Mediation is often used because it allows the parties to remain in control of the outcome of the dispute, while also providing an impartial third party to help resolve the issue. These are some of the more common methods of dispute resolution between parties to a contract in Louisiana. Depending on the situation, parties may also be able to use other methods such as binding arbitration or small/informal claims court.

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What are methods of dispute resolution between parties to a contract?

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