Mediation v/s Arbitration – What is the Difference?
Mediation and arbitration are the two most commonly used legal approaches for resolving disputes as well as divorce cases. If you are considering one of these options, look up a divorce lawyer near me and consult an attorney to know what approach is best for you.
Even though they share the same goals, the techniques used in these approaches are unique and case-specific. They help to settle cases through agreement instead of taking them to court. These methods help to avoid the stress and costs associated with legal proceedings.
The term “mediation” means involving a neutral person or third party to help the other parties discuss a legal matter and create a solution. That neutral person is known as a mediator.
Mediation is a type of voluntary procedure devised to achieve a decision that is mutually agreed upon. Mediations involve arguments about perspectives, the display of evidence, and numerous compromises and adjustments to reach a conclusion and formulate an agreement that satisfies all parties.
Mediators are not authorized to make final decisions like arbitrators or judges.
However, they do have the legal expertise and required knowledge to create discussions and resolve any arising legal issues in the process. People choose mediation due to its affordability and collaborative nature. It is less daunting than other approaches like arbitration or exhausting court hearings.
The word “arbitration” means the process of hiring a neutral person to act as an arbitrator and help resolve disputes in legal matters. They have the right to make the final decision regarding the issue.
Even though they might seem similar to court hearings due to their “final decision” features, the process of arbitration is comparatively way shorter than court. They focus on maintaining privacy by doing it privately on a small scale within a short amount of time. The arbitrator hears the arguments and demands from each side and checks the evidence to give the final decision. He has an ultimate say in the verdict process.
The decision of an arbitrator can be binding or non-binding. It depends on the nature of the dispute and the conditions mentioned in the lawsuit. Critical decisions are enforced by the court, while non-binding decisions made by arbitration shall be accepted by all the parties involved.
People choose arbitration due to its speediness and definitive nature. It guarantees agreement or a verdict no matter what happens. The arbitrators are specially trained professionals who are given cases similar to their specifications.