What are the differences between mediation and arbitration in international litigation?

Mediation and arbitration are two common methods of dispute resolution in international litigation. Although both involve an independent third-party resolving a dispute, there are distinct differences between the two. Mediation is a voluntary method of dispute resolution, where the parties to the dispute come together to try to reach an agreement. A mediator facilitates dialogue between the parties, offers suggestions, and encourages them to come to their own resolution. The mediator does not have the authority to impose a decision or make a binding ruling. Arbitration, on the other hand, is a more formal method of dispute resolution. The parties agree to submit their dispute to an arbitrator, who is essentially a judge, who will hear both sides of the argument and issue a binding ruling with legally enforceable consequences. The arbitrator is chosen by both parties, or by an independent third party. One major distinction between mediation and arbitration in international litigation is in the approach taken by both parties. In mediation, parties are encouraged to remain cooperative and to come to a resolution that is acceptable to both of them. On the other hand, in arbitration, the arbitrator is more likely to take a stricter stance, ultimately ruling in favor of one party or the other. Overall, arbitration tends to be more formal and binding than mediation in international litigation, and is usually the more preferred option when the involved parties are looking for swift resolution.

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What are the differences between mediation and arbitration in international litigation?

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