- Save time and money – When entered into voluntarily, mediation offers a 60 to 75% settlement rate in the fraction of the time and money it takes to go to court.
- Rapid settlement - Most clients settle within a full day of mediation or within 10 hours, not including the time taken to collect external data or for additional investigations.
- Confidentiality – Mediation is confidential and does not compromise your rights in court should you decide to pursue litigation or arbitration at a later date.
- High rate of compliance - Parties are generally more likely to comply with the terms of the decision when they have reached their own agreement compared to those where the resolution has been imposed by a third party.
- Mutually satisfactory outcomes - Parties are usually more satisfied with solutions that have been mutually agreed upon, as opposed to solutions that are imposed by a third party decision-maker.
- More control and predictability of outcome – Mediation gives parties more control over the outcome of their dispute because they negotiate their own settlements. Gains and losses are more predictable compared to cases that are arbitrated or adjudicated.
- Decisions that hold up over time – Mediated settlements tend to hold up over time. If another dispute occurs, the parties are more likely to resolve their differences in a cooperative forum rather than opting for an adversarial approach.
When a dispute occurs, choosing mediation as a first step makes good business and financial sense. Here’s why: