Alternative Dispute Resolution Options
When two or more parties or entities are involved in a business dispute, alternative dispute resolution (ADR) options—such as mediation and arbitration—offer promising solutions to settle the issue. These ADR options allow the disputing parties to resolve the business disputes amicably without going to court. However, understanding the benefits, processes, and limitations of these alternative dispute resolution options is imperative to determine the right one to pursue.
At the Law Offices of Peter V Lathouris LLC, we are dedicated to offering trusted advocacy and guidance to clients in alternative dispute resolution matters, including arbitration, mediation, and med-arb. Our experienced Connecticut business law attorneys can work to understand your unique situation and determine the right ADR option to help settle your business dispute.
We’re proud to serve clients across Stamford, Fairfield County, and New Haven County, including Danbury, Greenwich, Darien, Norwalk, and Westport, Connecticut.
What Is Alternative Dispute Resolution (ADR)?
Alternative Dispute Resolution (ADR) comprises a number of different methods that may be employed to resolve business disputes or disagreements between two or more parties or entities without going to court. Some common alternative dispute resolution options include:
Unlike going to trial or litigation, ADR methods offer an efficient way to settle business disputes amicably, confidentially, and peacefully.
What are the Benefits of ADR?
Some benefits of resolving disputes through litigation alternatives include:
ADR methods provide a more efficient and quicker way to settle disputes.
ADR methods can help save costs and time.
ADR methods are quite flexible and can help reduce stress.
Litigation alternatives can help settle disputes while preserving existing professional or business relationships.
ADR methods can help maintain the privacy and confidentiality of all parties involved in the dispute.
Once the business disputes have been resolved, all parties will achieve more satisfaction.
ADR methods allow the disputing parties to achieve a feasible resolution or compromise.
With alternative dispute resolution, the needs and concerns of every party involved will be taken into consideration.
If you’re involved in a business dispute and considering litigation alternatives to settle the issue, you need to speak with seasoned commercial law attorneys immediately. Your legal counsel can enlighten you about your alternative options for resolving disputes and help determine the best course of action.
What Is Mediation?
Mediation is an ADR method that requires the parties or entities involved in the business dispute to meet with a neutral third party (a mediator or mediation attorney) with the aim of discussing and settling the issues and probably reaching a voluntary resolution.
The Mediation Process
Furthermore, mediation offers a lot of flexibility and consideration for every party involved. Below are some of the steps involved in a typical mediation:
The disputing parties will meet with the mediation lawyer to outline and discuss the issues.
All participants will be allowed to introduce themselves.
The mediation attorney will fully explain the procedure and encourage participants to remain civil and respectful throughout the process.
Each party will be allowed to have a private session with the mediator in a separate room.
Each party will explain the dispute from their point of view and state their position.
The mediator will ask the parties to make a reasonable offer, settlement proposal, or counteroffer while considering the other party’s position.
However, the entire mediation process can take some hours, days, or sometimes weeks. Once the disputing parties are able to achieve a resolution, all agreed-upon terms will be accurately documented and signed. Also, the agreement will be presented to the court to be officially approved.
What Is Arbitration?
Conversely, arbitration is an ADR method that requires the disputing parties to submit evidence and testimonies to one or more experienced arbitrators (panel of arbitrators) who will help settle the disputes and decide.
The Arbitration Process
To initiate the arbitration proceedings, one of the disputing parties (the claimant) must file a statement of claim highlighting the surrounding facts of the dispute. The other party or parties (the respondent) will be allowed to respond to the arbitration claim. A date will be scheduled for the arbitration hearing.
At the hearing:
The arbitrators and participants will introduce themselves.
The arbitrators will explain how the arbitration works.
The arbitrators will call upon each party to explain the issue from their viewpoint.
The disputing parties will present evidence and witnesses and make arguments to support their claims.
Each party will make concluding arguments to support their case, state the position, and possible resolution.
The arbitrators will meet to review the available evidence, arguments, and witness statements. They will make a final decision or award.
A seasoned attorney can help prepare you extensively, represent you intelligently at every phase of the legal process, or explore your other litigation alternatives.
What Is Med-Arb?
Med-Arb is an alternative dispute resolution method that involves combining mediation and arbitration. Essentially, med-arb requires the disputing parties to first pursue mediation to achieve a feasible settlement. However, if the disputing parties reach an impasse or standoff on certain issues, they may turn to the panel of arbitrators to help settle the pending disputes.
Reach a Peaceful Resolution With Our Support
Alternative dispute resolution methods allow disputing parties to reach complete or partial agreements. However, it is important to know the benefits, procedures, and limits of each ADR method to determine the right one to pursue for your unique circumstances.
For more than three decades, we have devoted our careers to helping clients resolve disputes through various alternative dispute resolution methods. Whether you’re trying to settle your business dispute through mediation, arbitration, med-arb, or other litigation alternatives, we can walk you through the legal procedures involved and help you achieve the best available outcome.
Contact us at the Law Offices of Peter V Lathouris LLC today to schedule a simple case assessment with practiced commercial law attorneys. We can offer you the reliable legal guidance and brilliant advocacy you need to make intelligent decisions in your legal matters. Our firm proudly serves clients across Stamford, Danbury, Greenwich, Darien, Norwalk, Westport, Fairfield County, and New Haven County, Connecticut.