Commercial mediation is a business-friendly process, where a trained, experienced professional supports the disputing parties and their respective advisors in engaging on a without prejudice basis with a view to negotiating a mutually acceptable settlement to the issues at hand. Most importantly, commercial mediation allows the parties control of both the content and the outcome of the mediation, so that any mediated settlement must address the interests of both sides, and thus avoiding the risk of being subject to an unpalatable third party finding.
Throughout the process, the mediator supports the parties in identifying their key interests and underlying needs and the options for addressing those needs. Through the use of joint session and separate, confidential ‘caucus’ meetings, she helps the parties to examine the strengths and weaknesses of their case, analyse risks objectively and develop options for resolution.
Benefits of Commercial Mediation
- Lower cost:
Mediation is inexpensive compared to arbitration or litigation in terms of both financial and personal costs.
Mediation is a confidential process. All information arising during, out of, or in connection with the mediation is without prejudice, privileged and not admissible as evidence in any litigation or other proceedings, save where natural disclosure would occur, or where required by law.
- Protection of privacy:
Mediation takes place in private and settlement terms and conditions remain private, unless agreed otherwise as part of the settlement.
- Less adversarial:
Unlike litigation, mediation is an interest-based process based on consensus and collaborative development, that can allow for ongoing business relationships.
Mediation belongs to the parties – the disputing parties control both the content and the outcome of the mediation.
- Swift settlement:
A commercial mediation can often be concluded in a single day, enabling parties to get back to core business.
- Binding agreement:
Where the parties come to agreemnt at mediation, the terms of agreement (Mediated Agreement) are drafted (generally by the attending solicitors) and signed by the parties. Unless the parties agree otherwise, the Medaited Agreement, is a legally binding and enforceable contract.
Mediation is a flexible process that can be adapted to the specific requirements of a given dispute.
- Creative solutions:
Mediation allows for creative solutions and outcomes, crafted by the parties themselves and tailored to their unique situation.
- Preservation of options:
Engagement in a mediated intervention does not preclude participation in a different process, unless agreed as part of the Mediated Agreement.
Since 2004, Margaret has mediated cases in the public, private and voluntary / charity sectors including: contractual disputes; goods and services disputes; staff/patient conflicts; and personal injury cases.
To the best of her knowledge, no mediated agreement that Margaret has helped parties to reach has been set aside, either by the parties themselves