COMMERCE 4SD3 Lecture Notes - Lecture 2: Vicarious Liability, Vehicle Insurance, Contributory Negligence
19 Apr 2016
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Mediator helps the parties to hopefully arrive at a settlement o o with a minimum amount of cost) Parties choose their own process and procedure (can make it as informal as you want, Arbitration may be binding or non-binding, depending upon the agreed upon process. Adr must be agreed to by both parties after or even before dispute, but is not compulsory. Mediation and arbitration both confidential, while court proceedings are open to the public usually an advantage for it to be confidential when resolving commercial disputes - want some information to remain confidential (i. e. profits, business practices, etc. ) Parties choose their own mediator/arbitrator - cannot choose your judge. The parties choose the time and the location of the proceedings. Easier for the parties to continue dealing with each other after the process is completed. No right of appeal for arbitration, but always a right of appeal in court process.
