The Benefits of Alternative Dispute Resolution

The benefits of Alternative Dispute Resolution are:-

1.  Cost
One of the largest reasons parties choose to resolve their disputes outside of the courts is cost. Alternative dispute resolution usually costs much less than litigation, allowing smaller financial disputes a financially viable way to be settled.

2.  Speed
ADR can be scheduled by the parties and the panelist as soon as they are able to meet. Compared to the court process, where waits of 2-3 years are normal, dispute resolution is as fast as the parties want it to be.

3. Control
The parties control some of the process; selecting what method of ADR they want to follow, selecting the panelist for their dispute resolution; the length of the process; and, in a mediations case, even the outcome. Opposed to the court system, where the legal system and the judge control every aspect, ADR is much more flexible.

4.  Confidentiality
Disputes resolved in court are public and any judgments awarded are also public. Mediation, arbitration, and mini trials are all conducted in private and in strict confidentiality.

5. Experienced Neutral Panelists
Our panelists are professional mediators and arbitrators with training and expertise in dispute resolution and insurance. Disputing parties are able to select their panelist from a list of qualified individuals who are specialized in specific aspects of insurance. In the court system, binding decisions are made by judges who may lack expertise in insurance practices.

6.  Cooperative Approach
All ADR services take place in a more informal, less confrontational atmosphere. This is more conducive to maintaining a positive business relationship between the two parties. With mediation, specifically, the result is a collaboration between the two parties.

Advertisements