In an era when litigation costs continue to increase and the pathway to the courtroom is ever more fraught, when resources are better employed in creating rather then arguing, the commercially minded seek swift and financially sensible ways of dispute resolution.
Many courts now require parties to attempt to mediate before subjecting their dispute to the cold glare of the courtroom spotlight or else explain why they have not done so. Consensual mediation under the control of a qualified professional with the requisite commercial experience and legal background often proves to be an efficient method for parties in opposition to make a settlement of their differences. Although in some cases, there will have been formal exchanges of pleadings and disclosure, neither are wholly necessary if the parties are sufficiently resolved to come to a reasonable settlement. The skilled mediator is able to test that resolve and guide the parties towards that settlement.
As an alternative to the often cumbersome and expensive procedures to which the courts must adhere, arbitration provides a forum within which a dispute may be determined by an independent and duly qualified person. By agreement the parties may not only appoint an arbitrator but also determine the procedure by which their dispute is to be decided. Under English law, a duly made arbitration award may be made the subject of binding court order.
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