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

Mediation and arbitration are both types of dispute resolution used in international litigation, but there are some key differences between them. Mediation is an informal, voluntary process, where a mediator helps the parties discussing the dispute reach a mutually agreeable settlement. In arbitration, the parties are presenting their cases to an arbitrator, who makes a binding decision as to how the dispute will be resolved. Mediation is less expensive and time consuming than arbitration, and is more confidential. Mediation is also less adversarial, meaning the parties do not have to go to court to resolve their dispute. Arbitration, on the other hand, is more formal than mediation, and the proceedings are conducted more like a trial. The parties present evidence and make arguments to the arbitrator, who will then make a final decision that is binding on both parties. The rules of evidence are generally relaxed in arbitration, so parties can more easily present their cases. International arbitration is also legally binding and enforceable in many countries, making it possible for a decision to be enforced across national borders. In North Carolina, international disputes are heard in federal court rather than in state court. However, parties can still choose to go through mediation or arbitration to resolve their dispute. This provides an alternative to litigation that is efficient and cost-effective, and can facilitate an amicable resolution that all parties can agree to.

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

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