Mediation and arbitration represent two cost effective means of resolving a dispute.
Mediation occurs when parties meet with a neutral person, who assists the parties in reaching a mutually beneficial settlement. Mediation can occur before or during litigation. The court typically requires that parties mediate their dispute before it goes to trial.
In the course of his career, Stewart A. Sutton has attended hundreds of mediations with his clients. More often than not, the mediation results in the resolution of all or most of the disputed issues.
Arbitration is when the parties agree to present their case to a neutral person, usually a retired judge, who will then make a binding decision. The major advantage of arbitration is the expeditious resolution of a dispute. The disadvantage is the cost associated with paying a private arbitrator to hear the evidence and issue a binding ruling.