Differences Between Arbitration and Mediation
When engaging in litigation of a case, it can become a lengthy process wherein both parties are unable to come to an amicable resolution. At this point, the parties have two options: 1. The parties can proceed to a jury trial or 2. The parties may choose to proceed with Arbitration or Mediation of the matter.
An Arbitration consists of a neutral person also known as an “Arbitrator.” The Arbitrator listens to the evidence presented from both sides and then proceeds to decide the outcome. There are two types of Arbitration. A Binding Arbitration and a Non-binding Arbitration. A Binding Arbitration is both sides agree to accept the Arbitrator’s decision as final with no right to appeal. A Non-binding Arbitration, allows both sides to request a trial if they do not wish to accept the Arbitrator’s decision.
Mediation utilizes a “Mediator.” The Mediator assists both sides in trying to reach a mutually acceptable resolution of the case. The Mediator does not decide the case, but offers both sides guidance so they can try to settle the case themselves.
Both Arbitration and Mediation are cost effective and often lead to an expeditious settlement of the case. Also this is what good personal injury lawyer should do for motor vehicle, car or trucking accidents-thoroughly develop case to expedite arbitration or mediation for maximum recovery of damages for injured.