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Alternative Dispute Resolution - Coggle Diagram
Alternative Dispute Resolution
Mediation
A voluntary & nonbinding conciliation process
3rd party or Impartial mediator selected.
Final decision of settlement vests with the parties involved.
Is private and most lest expensive.
Arbitration
Formalized process resulting in a binding award.
Rules address:
Qualifications and appointments;
conduct of processing's;
Procedures for finding facts;
applying the law.
All parties must agree to the arbitration proceedings.
Freedom of choice regarding:
the
location
- usually a neutral country.
the
arbitrator
(from a list of arbitrators).
More costly then mediation but less costly then litigation.
No evidence is required to be discoverable.
National Arbitral Laws
Most commercial nations permit arbitration and specify effects of the arbitral award.
Litigation
Final alternative to dispute resolution
Legal systems controlled are territorial and can change depending on the substantive law.
Substantive law procedural
incorporates 'Choice of law clause'
Control over the venue takes place
using 'Forum selection clause'
Has Jurisdiction: the power of a court to hear the case and make a judgment.
Can be public and is more expensive than mediation and arbitration.
Discovery of evidence is required