Answered Essay: Explain mediation, third party negotiation, and arbitration. What are the differences between each?

Explain mediation, third party negotiation, and arbitration. What are the differences between each?

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Negotiation is a process where two parties in a conflict or dispute (fight) reach a settlement between themselves that they can both agree on. Negotiations are reached through discussions made between the parties or their representatives without an involvement of the third party. Each party should consult or see a lawyer before settling down the matter, so that they are well aware of their rights and duties in respect to the matter or dispute they are willing to solve.

Mediation means the process in which a neutral (means not supporting any one side) third party assists the parties in conflict to reach a solution. The third party is called the mediator and the mediator facilitates communication between the parties. The mediator manages communication process between the parties fairly, honestly and impartially. The mediators do not take sides, give legal advice or provide counseling.

Arbitration refers to the process where the decision is made by a third party. The arbitrator hears the case as presented by the parties in conflict or dispute (fight) and makes a decision or award in the same way as a Judge would. Awards are generally final and binding on all parties. An award may be filed in Court and enforced as if it were a Court judgment. Arbitration is commonly used in labour disputes and commercial disputes. It is also used in oil and gas disputes, insurance claim disputes and family and divorce disputes.

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