We offer mediation in commercial disputes and strongly recommend it as an alternative to legal action.
Mediation is an alternative dispute resolution method that is based on trying to reach a voluntary agreement between the parties. Mediation can take place both before and during the litigation process.
Through mediation, the parties receive help from an outside, impartial third party (mediator) to find solutions to the issues of the dispute in a constructive way. There are many benefits to mediation.
- The cost factor — The parties share the cost of mediation and, in cases where mediation is successful, avoid the risk of paying expensive court costs.
- The result — The parties, who are the best suited to make decisions about their own affairs, have, through mediation, an opportunity to control the process and be fully involved in the outcome.
- The time aspect — Mediation only lasts for a day or two. Including time for preparation and scheduling, the parties can count on the whole process taking about two weeks (in contrast, it can take more than a year to obtain a judgement in a court case in first instance).
- The flexibility — The mediation process is not regulated like litigation, either in form or content. The parties, therefore, have greater flexibility to find suitable solutions that can include non-monetary components and may even end up going on to constructive cooperation in the future.
- The confidentiality —Unlike the public visibility of resolving disputes in the openness of court, the mediation procedure is much more confidential.
According to the long-established English mediation organization CEDR (Centre for Effective Dispute Resolution), not only do a high percentage of parties in a dispute that goes to mediation agree to a settlement, but approximately 70% of them do so on the day of the mediation itself. Approximately 25% of disputes reach a settlement shortly after the mediation.
If you’re currently involved in a commercial dispute or think you will be imminently and are interested in mediation, please contact Maria Stakovska, a CEDR-accredited mediator, for more information and a quote.
