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What is Commercial Mediation?
In the fast-paced world of business, disputes are inevitable. However, resolving these conflicts efficiently and effectively is crucial for maintaining healthy business relationships and ensuring protection for your business. This is where commercial mediation comes into play.
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Understanding Commercial Mediation
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Chances are that you operate or make the decisions on behalf of a business, or an organisation and the chances are that you are time poor and budget conscious. Commercial mediation is a valuable process that offers a constructive way to sit down with the other party to the business dispute, and perhaps with advisers, conduct difficult conversations, assess risks resolve a dispute and identify the best way to resolve a problem. And it works.
Types of commercial disputes
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More than 92% of commercial cases that come to mediation are resolved according to a recent HSF report which continues on an upward conjecture. These include:
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partnership disputes
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commercial debt disputes,
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insolvency disputes
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contractual disputes
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outsourcing supplier disputes
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shareholder and director disputes
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business or family succession disputes
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Mediation as an Alternative Dispute Resolution
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Unlike traditional litigation, which can be time consuming and costly, commercial mediation provides you with a more efficient and cost-effective alternative, that allows you to have control of the outcome and reach a mutually acceptable solution. The Mediator is there to support and to manage the process, otherwise known as an alternative dispute resolution process (ADR)
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On the spectrum below mediation is one of the options of possibilities on the alternative dispute resolution model
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So when you look at the lower end of the spectrum for business decision makers, when a dispute cannot be resolved on its own, the opportunity to bring in a mediator is introduced. However, if the dispute is not addressed at this point on the spectrum, and you choose not to have your voice heard or not to participate in a mediation, that’s where the dispute can escalate. The potential for the problem to move higher to litigation becomes greater and now becomes ripe for arbitration or even a court matter and then it becomes more time consuming, protracted, and lengthy. Therefore, your adviser from the outset should consider whether your case is suitable for mediation.
Have a conversation with us about what you are looking to achieve for your business or organisation and the outcomes.
Winnie Onyekwere LLB LLM
Contact
You can leave a comment, ask a question, share your perspective below. Alternatively, if your organisation or business is involved with a conflict or dispute and you are looking for independent mediators to support you contact us for a discovery call to see how Concilium Mediation can help you
0333 3444 945
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