Overview

Mediation is a common form of alternative dispute resolution in commercial disputes. The parties, usually accompanied by their legal advisers, meet with a mediator to attempt to reach a settlement. As a result, Justice Secretary Ken Clarke is urging parties struggling to reach agreement, to use mediation instead of resorting to the court process.

Once parties embark on a formal court process, it is easy for costs to spiral and/or become disproportionate to the amount of the claim. Litigation risk will play its part in that there is a risk that you will not be successful and be ordered to pay the other party's costs. Mediation provides the opportunity for parties to settle their disputes at an early stage, thereby saving time and cost to the business in an environment that can also preserve commercial relationships.

In addition to providing a broad overview of mediation, Shoosmiths outlines exactly it covers, its advantages and potential drawbacks.

To read on, click 'View Briefing'.