Mediation is private, voluntary process conducted by a neutral third party (the mediator), who assists the disputing parties to work towards the settlement of their dispute. The parties control the decision to settle and determine the terms of their resolution.
Mediation counters the combative court system and seeks to resolve defined issues. This process gives the parties the platform to directly communicate and negotiate with each other to secure an agreement that is mutually beneficial. Thus, in comparison to the customary methods of resolving disputes through the court system, mediation is based on the notion of self determination. That is, the parties hold the decision making power and control the outcome of their dispute.
Mediation of business disputes is usually less expensive and less time-consuming compared to litigation. Mediation also provides the opportunity to resolve a dispute in a non-adversarial manner so that valuable business relationships may continue.