Mediation is used in an increasing number of commercial and personal disputes.
Even in cases where opinions are fiercely opposed to one another, involving an independent mediator can be a good way to break the deadlock.
The potential speed of mediation is highlighted in the results of the 2018 survey by the Centre for Effective Dispute Resolution (CEDR), which reports that mediation now has a settlement rate of 89%.
In nearly three quarters of cases (74%), settlement is reached on the same day that the mediation takes place, while a further 15% of cases settle shortly after mediation.
Compared with lengthy disputes, involving court proceedings mediation is a quick and cost-effective process.
The CEDR survey also found that across £11.5 billion worth of commercial mediation cases handled in the preceding 12 months, businesses had saved an estimated £3 billion in legal fees, management time, wasted productivity and damaged working relationships.
Mediation can take place at any stage of a dispute. However, appointing a mediator right from the start will often help to resolve disagreements before the parties become entrenched.
While there may be a few exceptions to the rule, mediation is appropriate for resolving the vast majority of disputes.
An agreement reached at mediation is binding on the parties and is concluded in a written agreement which may include a clause dealing with confidentiality. An agreement may also deal with the future relationship between the parties.
For further information and advice about mediation for commercial or personal disputes, contact Fairlead today.
With decades of experience in resolving disputes, we can advise you about what the best and most realistic approach to mediation would be for your individual circumstances.
Call us at our offices in Leicester today on: 0800 63 41 777.
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