Types and Importance of Dispute Resolution
There are a lot of options open to us when it's all about dispute resolution. Understandably, disputants are sometimes puzzled as to which technique to use in their scenario. For these situations, this post brings in a rundown of the basic types of dispute resolution to consider and the importance to have an effective dispute resolution procedure. 1. Mediation Mediation can be a brilliant method for parties to express themselves and completely understand their issues. Mediators can assist to help parties reach a lasting, voluntary, and nonbinding agreement by working with them jointly and independently. The purpose of mediation is for a neutral third party to assist disputants to come to a settlement on their own. 2. Arbitration An impartial third party becomes a judge in arbitration and is responsible for resolving the ongoing dispute. Arbitrators create rulings that are generally private and cannot be appealed. The parties can agree on almost any aspect of the