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

Mediation and arbitration are two distinct methods of resolving international litigation disputes. Both have advantages and disadvantages that should be taken into consideration when deciding which method to use. Mediation is a process in which a neutral third-party mediator helps the parties come to an agreement. The mediator will asses both sides of the argument and offer suggestions to the parties in order to help them reach a mutually satisfactory outcome. The process is voluntary and confidential, and all parties must agree to the terms of the resolution. In Florida, mediation is the preferred method of dispute resolution and is often used in international litigation cases. Arbitration, on the other hand, is a formal process in which a neutral third-party arbitrator listens to the dispute and makes a decision. The decision made by the arbitrator is binding, meaning that the parties must abide by it regardless of whether or not they agree with it. This method is generally more expensive and time consuming than mediation, but it is often chosen when the parties cannot come to an agreement through mediation. In international litigation cases, arbitration is usually chosen when the parties come from different countries and a neutral third-party is needed to make a decision. Ultimately, both mediation and arbitration offer different approaches to resolving disputes in international litigation, and it is important to understand the differences between them in order to make an informed decision.

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

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