What is the relationship between securities arbitration and mediation?
Securities arbitration and mediation are two ways of resolving a dispute in Kansas. Both are forms of Alternative Dispute Resolution (ADR), meaning that they are a way for parties to resolve a conflict without going to court. Securities arbitration is a formal process in which two parties present their case to an independent arbitrator. The arbitrator is responsible for ruling on the dispute and determining a resolution. This process can be faster and less costly than a lawsuit. The decisions of an arbitrator are typically binding, which means that they are legally enforceable. Mediation, on the other hand, is a less formal process where a neutral third-party mediator helps the two parties work out a mutually agreeable solution to the dispute. The mediator does not decide the outcome, but instead helps the two parties to better understand each other’s needs and interests, and encourages them to reach an agreement. The decisions are not legally binding, but the parties involved may agree to abide by the terms of the agreement. In summary, securities arbitration and mediation are both types of ADR that can be used to resolve a dispute in Kansas. The difference between these two processes is that arbitration is a formal, legally binding process, while mediation is a less formal process, with decisions that are reached through mutual negotiation.
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