What is the procedure for resolving commercial disputes?

In North Carolina, most commercial disputes are resolved through a process known as Alternative Dispute Resolution (ADR). This involves attempts to settle the dispute outside of the court system. This could include arbitration or mediation, among other methods. Arbitration is a process where an independent third-party, known as an arbitrator, is chosen to review the evidence of both parties of the dispute and make a legally binding decision. This decision is final and cannot be appealed, unlike court proceedings. Mediation is another way of attempting to resolve commercial disputes. In this case, a neutral third-party will work to ensure that both parties of the dispute come to an agreement that is acceptable to both. This third-party will not issue any judgement, as they are not legally qualified to do so, but will instead facilitate negotiations and help to ensure a fair outcome. It is possible to resolve commercial disputes without the need to go to court, but it is important to note that in some cases, it may be necessary to take legal action. If an agreement is not reached through ADR, then the dispute could be taken to court under the laws of North Carolina. In such cases, the court would hear evidence from both sides and then make a legal decision based on the relevant facts.

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What is the procedure for resolving commercial disputes?

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