While the great majority of disputes submitted to mediation are resolved, if the parties are not able to reach a settlement following the Mediation Conference but want to resolve all or some of the remaining issues out of court, they may consider arbitration of those issues. The benefit to the parties is that arbitration is generally faster and less expensive than litigation. Unlike a Mediator, an Arbitrator actually decides the issues.
Submitting a dispute to arbitration should not be done without consulting an attorney. However, with the consent of all parties and their lawyers, Business Mediation Network can assist the parties in establishing a Med-Arb or other hybrid process that allows the mediator to become an arbitrator and decide the remaining issues. See BMN’s Med-Arb program. This can bring closure to a dispute but should be done with planning and care. Of course, the parties can retain an arbitrator other than the Mediator.
For further information on Arbitration Following Mediation, call or email Business Mediation Network (see Contact).