How Commercial Mediation Can Calm the Storm
Mediation has long been recognised in family-law as a winning way to solve problems quickly, amicably and with as little pain as possible. However, over recent years the commercial and business sector has taken notice too, introducing commercial mediation as an alternative to litigation with great success.
Commercial mediation (also known as alternative dispute resolution, ADR, dispute resolution and mediation) is now regularly the preferred way of resolving commercial and business disputes. Including commercial contract disputes, breach of directors’ duties, shareholder and partnership disputes, merger and acquisition post-acquisition disputes, property litigation claims and trust and pension issues.
So, is it about time you considered mediation to calm your commercial storm?
What is Commercial Mediation?
Think of it as a forum. A ‘safe place’ where the parties involved can come together to address the issues and obstacles behind the commercial dispute. Helped by a neutral third person, the aim is to reach a commercially viable solution to resolve matters harmoniously.
Commercial Mediation – The Benefits
- It is quick! By that we mean that it can be arranged at quite short notice and once organised it usually takes 1 day.
- It is inexpensive. That is in comparison to court proceedings. Generally, each party pays one half of the mediator’s fee and one half of the cost of the room hire.
- It is informal. There are no set rules and procedures and every mediation is different to try and achieve the outcome desired. Namely a settlement.
- It is flexible and the outcome can be and very often is something a court could not have ordered had the claim gone to a trial with a judge.
- Because you and the other party make the agreement together, you are both more likely to keep it. And, the process of working things out in mediation is an experience you and the other party can draw upon if you run into problems again in the future.
- The decision to settle and terms of agreement rest with the parties themselves, not the mediator and not a judge.
DISPUTE RESOLUTION CONSULTATION
Terry Maylin TM Law solicitor gives this advice to clients considering commercial mediation:
“There are two important things to remember about a commercial mediation. Firstly, enter into it with an open mind. If you go along with a fixed idea about the outcome you want, it is unlikely to result in a settlement. Secondly, a resolution is often a settlement you can live with, rather than one that ticks every single one of your boxes.”
About TM Law – Specialist Alternative Dispute Resolution Solicitors
Based in Hockley, Essex, TM Law is a small and dedicated solicitors. With many years’ experience, helping business owners and local individuals with matters of dispute resolution, compromise agreements, employment disputes, debt collection, commercial disputes and much more.
As a specialist alternative dispute resolution and litigation solicitors, TM Law will advise on whether disputes should be resolved through Court proceedings or alternative dispute resolution, including mediation. Enabling clients to solve problems quickly, cost effectively and as amicably as possible.
For a personal service and professional commercial mediation services as an effective alternative to litigation contact us today. We offer a fair, fixed fee service and we’re always happy to help.