Explaining commercial mediation
Commercial mediation is a useful method of alternative dispute resolution. It serves as an effective way to work through professional or commercial issues or disagreements, without prejudice and without the need to take the issue to court, where it would be made public.
The mediation process is confidential and allows those involved, otherwise known as the disputing parties, to reach an agreement they can both be happy with, omitting the hefty court costs that can sometimes come from a traditional commercial dispute resolution.
The mediation session will be conducted by a trained mediator. They will remain impartial throughout the session, working through the facts of the commercial dispute and following the necessary procedures in a confidential process.
By nature, a mediation session is more relaxed than a formal commercial dispute. It offers the disputing parties flexibility, allowing them to talk through their differences in a low pressure environment.
The session will begin with the independent third party mediator introducing the disputing parties and setting down the standards that allow the procedures to take place smoothly, such as not interrupting the other party whilst they talk.
The commercial mediator will also clarify their position as an impartial professional, working with the participants to reach an agreement that is mutually beneficial.
Mediating as soon as possible is advised, as it can reduce the time and resources spent on a traditional dispute. Have you already started a court case but think mediation would be a better option? That’s okay. The court is able to put your case on hold, keeping all mediation information from the judge.
