Both arbitration and mediation are nonjudicial methods to resolve a dispute. For example, they may be utilized to decide on a real estate dispute or a settlement over an NDA violation. This guide will walk you through how they differ, the advantages of each, and how a lawyer can facilitate both processes. 

Arbitration 

This option is an alternative to litigation, and it’s often just as legally binding. The arbitration hearing will be private and conducted by a third-party, such as a lawyer. Usually, there will be one to three arbitrators, as an even number can lead to a tie. Once the parties enter into arbitration, they hand over the power to decide the dispute. 

There are many advantages to this approach. For one, both parties can choose the arbitrator. If, for example, the case involves technical aspects, they can pick someone with the necessary expertise. Second, the process is far more efficient than court proceedings. The case will generally be heard sooner, it’ll be shorter, and there’ll be less preparation involved. Finally, because arbitration hearings are private, members of the media or public won’t be able to attend, which can be useful for PR purposes. 

Mediation

While the job of an arbitrator is to make a decision, a mediator’s task is to help both parties come to an agreement. At the end of the process, a neutral third-party—usually a mediation lawyer—will create a settlement agreement for both sides to sign. The document will be enforceable in court. 

Mediation is a peaceful and inexpensive way to solve a dispute. Both sides arrive at a settlement based on compromise and communication, reducing negative feelings. However, if a settlement can’t be reached via mediation, arbitration or litigation may be required.

Whether you need arbitration, mediation, or litigation services, contact Goicoechea, DiGrazia, Coyle, & Stanton. Serving the Elko, NV, area, the firm uses best practices and effective techniques to solve disputes amicably. Their lawyers have excellent analytical skills and can learn complex matters quickly. Call (775) 738-8091 to schedule a consultation with an attorney, or head to their website to learn more about their services.