Whether it’s a business conflict, family disagreement, or property dispute, the most cost-effective way to resolve isn’t going to court—contrary to popular belief. Litigating and going for trials are time-consuming and expensive ways to resolve a dispute.
When you go to the court with your problems, there’s always a chance that you’ll lose. You might not get what you want and could end up owing money to the other side. That’s when Alternate Dispute Resolution (ADR) comes in. This blog post will discuss ways to keep your disputes out of court.
Settlement Negotiation
Negotiation is when one party contacts the other to reach a mutual agreement. Before filing the case, both parties are free to resolve their dispute through negotiation. Consider talking to the other party or send them a letter to discuss the problem. You can also let them know that you can sue them if the dispute remains unresolved.
If you negotiate a settlement, draft a detailed settlement agreement that outlines the terms.
Mediation
The resolution process is guided by a third party (mediator) to help reach a negotiation. However, they don’t have the authority to decide the dispute. The mediator can also be a retired judge, lawyer, or expert in a specific field.
Parties usually agree to mediate a dispute because the process is faster and cheaper than suing in court. In the event of filing a small claims case, you may be required to participate in a mediation. In the court, the judge can order both parties to attempt mediation.
Arbitration
The arbitration process involves a third party (the arbitrator) who acts as a private judge and makes a decision about the dispute. The parties can submit their disagreement to arbitration because it’s a simple process.
In high arbitration, the parties set the upper and lower limits for a monetary award. Their award is legally binding if the arbitration decision lies within that range. In non-binding arbitration, either party can disagree with the decision if they don’t like it.
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