The third-party is called an arbitrator who hears the evidence from both sides and decides on which is the prevailing party. Arbitrations can be binding or non-binding depending on the nature of the case.
This process, arbitration, is an Alternative Dispute Resolution, sometimes referred to as ADR. It is used in place of actual litigation; it by-passes the courtroom by settling the dispute, thus saving cost, time and stress.
Fees for Mediation and Arbitration Services
Mediation: $150/hourly; a two (2) hour minimum
Arbitration: $250/hour; a two (2) hour minimum
Retainer depends on the complexity and anticipated length of the business transaction to be negotiated or the case to be arbitrated or mediated.
Free initial 30-minute meeting/discussion to discuss the process and pricing.
Checks, cash and credit cards accepted. No checks are accepted from individual parties.
It is a court-based process without actually” trying” the issues. Arbitration is separate and apart from mediation, which is an informal process of bringing the parties together. The mediator, unlike an arbitrator, does not make rulings or findings; the mediator is a negotiator trying to get both sides to agree to a resolution.
Whether it is arbitration (binding or non-binding) or mediation, it will save you time, money and stress!
The conferences are governed by the Mediation Confidentiality and Privilege Act as well as acceptable rules of procedure.