Mediation is a powerful tool which can be a quick and cost-effective method of resolving business disputes.
It can be organised rapidly – often within days – and it is in tune with the realities of life in business today.
Mediation gives all parties a useful breathing space to think about how a situation can be put right without resorting to legal action.
It is regularly used by businesses of all sizes and types to settle financial disputes and to iron out issues which might otherwise end up in a formal process such as an employment tribunal. It can support negotiations and improve communication leading to resolving conflicts and rebuilding relationships.
Mediation is a non-binding, voluntary and “without prejudice” process in which a mediator attempts to bring two or more parties together and oversee a settlement agreement. It does not seek to apportion blame, but it gives people an opportunity to explain their viewpoints face-to-face – which can defuse tense and angry situations and pave the way to reaching a mutually acceptable agreement.
The final outcome of a successful mediation is a written and binding agreement signed by the parties.
Chris Else is a qualified mediator with more than 25 years’ experience in commercial dispute resolution.
Click here to view Chris’ mediator profile.