If you are involved in a business dispute, you probably have a lot at stake and want to make sure you get what you are owed. But you may not want to sue the other party, often because you want to avoid the expense, uncertainty, and antagonism of a lawsuit. In this case, you can use the alternative dispute resolution procedures of mediation and arbitration.
Mediation is a procedure of negotiation, in which both you and the person with whom you have the dispute propose solutions to your dispute under the learned supervision of an experienced and impartial third party, the mediator. There is no guarantee that mediation will reach a settlement, but this procedure is the best for avoiding conflict and reaching a compromise that is equally amenable to both sides. Mediation is good for businesses and individuals that hope to work together more in the future.
Arbitration is a process that is very similar to a trial, in which each side makes its arguments and a written decision is issued, but instead of a public judge, arbitration uses a private arbitrator or panel of arbitrators to make the decision. Arbitration can be binding or non-binding, and sometimes is blended with mediation.
Depending on the type of dispute in which you are involved and the terms of your contract, you may be able to choose between arbitration, mediation, or filing a lawsuit. We can advise you about which course is most likely to get you a favorable outcome. And if you are bound to mediation or arbitration, we can help you get the best possible outcome. Please contact the Dallas, Texas business lawyers at Polewski and Associates today to learn how we can help you.