17 Jan 17.01.2019 Mediate, don’t litigate!
17.01.2019 Mediate, don’t litigate!
Commercial mediation is a flexible, voluntary and confidential form of alternative dispute resolution. It is the attempt to settle a legal dispute through active participation of a mediator, a neutral third party, who helps parties to find points of agreement and impartially facilitates settlement of the dispute.
A Mediator is a neutral third party and assists in negotiating an agreeable settlement which is enforceable by law.
Unlike a judge or arbitrator, the mediator will not decide the case on its merits, but will work to facilitate agreement between the parties.The mediator can’t impose a solution and does not decide which of the parties is right or wrong. The parties have control of the final settlement and its terms. It is the parties’ opinions, not the mediators, which matter.
According to the findings of the Centre for Effective Dispute Resolution (CEDR) in the UK, civil and commercial mediation has grown by 9% in the last 12 months to over 9,500 cases per annum.
The total value of mediated cases in the UK since 1990 is just under £65 billion. Currently commercial mediation saves business around £2.4 billion a year by achieving earlier resolution of cases that would otherwise have proceeded through litigation.
Over 75% of mediations in the UK settle on the day with a further 11% settling shortly thereafter. Experience shows that attendance and a well-timed preparation for a mediation session will significantly reduce overall legal costs and the stress associated with fighting the matter out in court.
Svetlova LLP can save your litigation money. Please call us on +44 207 129 129 6 if you need a mediation expert.