What is the difference between mediation and arbitration?

Mediation and arbitration are both methods used to resolve disputes without the need to go to court, though they serve different purposes. In mediation, an independent third party, such as a mediator, helps the parties in dispute come to an agreement that both sides are happy with. This process puts the power of the decision in the hands of the parties involved, and is often less expensive and more time-efficient than a court process. In arbitration, a third-party arbitrator makes a binding decision regarding the dispute. This decision is legally binding and cannot be changed. It is also final and cannot be appealed. Arbitration is often used in Nebraska when the parties are unable to reach an agreement themselves, or when the dispute involves a large sum of money. Overall, the difference between mediation and arbitration is that in mediation both parties have the power to make decisions mutually, whereas in arbitration the third-party arbitrator makes the final decision. Both methods are used to resolve disputes without having to go to court, and can be beneficial to parties involved in disputes in Nebraska.

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What is the difference between mediation and arbitration?

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