Commercial mediation allows companies or individuals a way of resolving their conflicts without going through a costly and time consuming court battle. Courts themselves in many cases have referred commercial parties in a dispute to mediation as a first step to resolving their issues.
How The Process Works
Commercial mediation usually takes a day possibly two depending on the complexity of the case . The mediation takes place at a location agreed by the parties. Before the Mediation a statement of the principal issues can be sent to the mediator.
Once both Parties have agreed to go to mediation, a date and location agreeable to all parties is set up. Where relevant a brief statement of the principal issues can be sent to the mediator prior to the mediation.
To begin with the Mediator explains how the mediation will work and then asks each of the participants for a brief overview. Following this the mediator holds round table or private separate sessions with each of the participants this all allows the mediator to build up an understanding of the respective interest that need to be satisfied for a successful settlement.
Once an agreement has been reached a memorandum of Understanding will be drawn up which can be made into a formal agreement by the particiants laywers.
Issues covered by Commercial mediation
Company and Partnership disputes
The cost of commercial mediation depends on a number of factors which include the time that the mediator has booked for the mediation, the number of parties and the value of the dispute.
For a more accurate fee estimate of how much the mediation process will cost, please contact us to arrange an initial free consultation.