Mediation is a method of conflict resolution which is confidential and non-binding. It involves parties sitting down and attempting to reach an acceptable resolution. All meetings are structured and guided by a trained neutral mediator. The process is designed to offer a win/win situation for all parties concerned and is fast, flexible and reduces time and costs.
Mediation is a wiser option than litigation, as litigation offers a strictly win/lose result. Most often at litigation, juries that have little to no understanding of a situation will decide your fate. Therefore, most parties will request expert witnesses to clarify technical aspects of a case, especially those that deal with construction, medicine, and science. However, hiring expert witnesses is costly as there is very few expert witnesses that have the experience speaking to a jury.
Mediation, on the other hand, is voluntary, which means that all parties are in agreement of the meeting. Arbitration is compulsory, making some parties hesitant to resolve issues quickly as they may feel that the result may not be in their favor.
The fact that mediation is non-binding, lets parties know that the decision is not final, and will only be acted on if all parties are in agreement and a negotiation agreement is signed giving consent. Most mediation proceedings can be solved in a day, leaving all parties the freedom to manage other aspects of their business.