Mediation – a consensual, confidential, quick and cost effective method of dispute resolution.
CDR has fully accredited and practising Mediators in-house who can undertake and advise in this form of ADR. Mediation is a consensual and confidential process. It is a quick and very cost effective method for the resolution of both commercial and civil disputes. Carried out in days as opposed to the months and even years in other forms of dispute resolution, Mediation should not be overlooked in times of financial constraint. The Centre for Effective Dispute Resolution (CEDR) published findings from their Seventh Mediation Audit in May 2016 concluding that the commercial mediation profession will save the UK’s business sector approximately £2.8 billion this year alone in wasted managed time, damage to working relationships, lost productivity and lawyers’ fees.
Cost and time considerations are definite drivers in Parties’ minds when deciding upon dispute resolution methods and Mediation is certainly increasing in popularity. With the aggregate settlement rate of Mediation remaining consistent at 80% coupled with the obvious cost and time benefits and the flexibility and relative informality of the process; mediation has much to offer.
Currently, Mediation appears overlooked by those working in the construction industry. However, given the financial savings, productivity gains and better work relationships could it be a cost effective method of resolving your dispute?