FAQs
What is the difference between conciliation, arbitration, and negotiation?
Conciliation involves a neutral third party facilitating communication to resolve disputes. Arbitration employs a third-party decision-maker to render a binding decision. Negotiation is a direct discussion between parties to reach a mutually acceptable solution without third-party involvement.
What are the 3 methods of dispute resolution?
The three main methods of dispute resolution are litigation, where disputes are resolved in court; arbitration, involving a neutral third party making a binding decision; and mediation, where a mediator assists parties in reaching a voluntary settlement.
What is the difference between mediation and arbitration in court?
Mediation involves a neutral third party facilitating discussions to help parties reach a voluntary agreement. Arbitration, on the other hand, entails a third-party decision-maker rendering a binding decision after hearing evidence and arguments from both sides, often resembling a more formal court process.