You might have heard people talk about litigation, arbitration, and mediation before and assumed they are interchangeable terms for a legal battle involving heated court room discussions and contracts that rival iTunes’s terms and conditions in length.
Fortunately, this is not the case. There are subtle, but important, differences between them. It is important for you to understand these differences so that you can make a smart choice between the three if you or your loved ones ever seek legal service from a top Twin Cities law firm like KTF Law.
Litigation is something that people like to avoid even more than lawyers. A judge or jury decides the case in a trial and that unpredictable process can be draining on your bank account and emotional health according to findlaw.com.
Arbitration and mediation are popular dispute resolution alternatives to the traditional litigation. Here are three main differences between arbitration and mediation explained by the team of legal experts at KTF Law.
- Arbitration involves at least one arbitrator
- The arbitrator’s role is to make a decision
- With binding arbitration, the arbitrator’s decision is enforceable and treated like a court’s decision
- Mediation involves a single mediator
- The mediator’s role is to ease negotiation
- The parties do not have to reach a settlement agreement, but if they do it is enforceable
Arbitration and mediation save time and money and are great first steps to try before moving forward with litigation. However, if a clash does come to litigation, the Twin Cities lawyers of KTF Law are experienced and ready. Contact KTF Law today for a free consultation!