Arbitration and Mediation
If your business is tied up in a dispute, you’ll know how stressful and time consuming it can be to deal with. Litigating your dispute in Court is often expensive, lengthy and uncertain, so it’s always advisable to consider alternative methods of dispute resolution. Here at Nash & Co Solicitors in Plymouth, we pride ourselves on helping our clients to resolve their disputes through the use of arbitration and mediation, both forms of alternative dispute resolution.
Our team of commercial solicitors are experienced and skilled arbitrators and mediators resolve your dispute quickly, achieving the most cost-effective and commercially viable solution for your business.
“The prospect of spending months or even years locked in expensive litigation through the courts is pretty daunting. That’s why there has been an increasing emphasis over the past few years for parties to take up Alternative Dispute Resolution instead, which includes mediation and arbitration. The success rate of mediation speaks for itself and we believe parties are much happier when they find themselves with more control over the course of their dispute.”
Jamie Carr, Solicitor
What is Mediation?
Parties involved in a dispute meet to sort out their differences by way of Mediation. This uses an appointed mediator to act as a ‘referee’ during the process, on a ‘without prejudice’ basis.
The goal of mediation is to achieve a settlement by the end of the mediation session. This can be particularly successful if all parties enter into it with good faith. Many businesses find arbitration to be a more attractive and viable method of dispute resolution. This is likely due to the process being highly flexible and straightforward. What’s more, it allows them to be in control of the course of the dispute. Significantly, it can save them time and money in the process.
What is Arbitration?
Arbitration is another method of alternative dispute resolution. The claimant and the respondent will both put their case to an independent arbitrator. They will listen to both sides before weighing up the evidence and deciding on the outcome.
The arbitrator will generally make their decision within 45 days of the closure of the arbitration proceedings. The decision is legally binding and known as an award. If you disagree with their decision, you can’t take your case to court in the hopes of changing the outcome.
What’s the difference between Arbitration and Mediation?
Despite often being mentioned in the same breath, arbitration and mediation are very different procedures.
With arbitration, parties will either have agreed to arbitrate in advance. Or, if they wish to avoid court proceedings, can decide to arbitrate on a personal basis. Depending on the type of arbitration, both parties can appoint a single arbitrator, or each party can select their own. Many kinds of contract (such as shipping contracts) sign parties up to arbitration where there is a dispute within it.
There are also bodies such as LCIA (the London Court of International Arbitration) where commercial parties can agree to go to arbitration instead of court without actually having a pre-existing arbitration agreement. The relatively straightforward proceedings in arbitration tends to be highly attractive to parties involved.
How it works
Mediation requires both parties to work together to reach a mutually beneficial solution. Mediators are on hand to help settle, collect necessary information and help develop solutions. Acting as a neutral third party, mediators facilitate negotiations that allow the clients to make decisions. In contrast, arbitrators make decisions based on evidence.
At Nash & Co Solicitors we have experience of both mediation and arbitration. We can advise you on costs, procedure, and which method is most appropriate.
The CEDR (Centre for Effective Dispute Resolution) state that in recent years, there’s been an 89% success rate in commercial mediation. 74% of participants settle on the day and the remaining 15% settle shortly afterwards.
With such strong success rates, it’s no surprise that more and more parties are opting for arbitration and mediation over court litigation.
How Nash & Co Solicitors can help you
Our team of solicitors in Plymouth have the experience to advise commercial parties on the best way to resolve their dispute – without the need for court proceedings. Using alternative dispute resolution (including arbitration and mediation), businesses can often avoid costly and time-consuming court action. We’ll aim to resolve your dispute in a timely manner, working to achieve the best outcome for your business.
We have a wealth of experience as mediators and arbitrators. In recent years, we’ve represented the interests of a wide variety of companies across the South West. Working with everyone from SMEs to large corporations, we’ve represented businesses from a number of different sectors.
If you would like any advice on the arbitration and mediation process or have questions about how it could apply to your situation, please contact us. You can reach Jamie Carr and the Commercial Dispute Resolution team on 01752 827014. You can also email Jamie at [email protected] or request a call back by filling in our contact form.