In arbitration, a private court hearing is required to settle disputes between two parties, and the outcome is decided by a neutral third-party arbitrator. Conversely, mediation is a form of commercial negotiation to settle a dispute in which the disputing parties come to a resolution themselves with the help of a personal mediator and remain in more control.
Both mediation and arbitration are ways to resolve conflict outside of court with the help of a Illinois arbitration and mediation lawyer. They are a form of alternative dispute resolution to help the parties avoid the time-consuming and costly litigation process.
There are many methods of dispute resolution in the American legal system. Arbitration and mediation and two primary alternative dispute resolution methods that are commonly used along with negotiation, conciliation, and transaction. Litigation is another way of handling disputes, but it goes through the court system.