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What to know about mediation as a tool for dispute resolution

On Behalf of | Jul 18, 2022 | Business Law |

Business disputes can happen when they are least expected. When they do, the damage to the business can be enormous. Disputes can drain resources and prevent the organization from realizing its goals.

When a business dispute happens, one of the cost-effective dispute resolution mechanisms the parties can consider is mediation. However, for mediation to work, it is important that certain methodologies are applied.

Here are important considerations you need to keep in mind when mediating a dispute.

Set the rules of engagement

Effective mediation requires a clear roadmap. Both parties must be clear about the issues of contention. Additionally, they must be willing to participate in the mediation process. Mediation will never work if one party tries to impose its will on the other.

As part of laying the grounds rules, it also helps if the parties can come up with what they consider solutions to the problem in question. This can only happen if everyone comes to the mediation table with an open mind.

Be ready to tackle all the issues

No matter the mediation approach you use, one rule must always remain: you must never leave any stone unturned. If you choose to mediate a business dispute but leave certain things unsettled, it is just a matter of time before the outstanding issues come up. During the mediation process, be open to tackling issues as they arise, even if they are unrelated. Be sure to list the issues to be addressed and get over them, one after the other.

Put it down in writing

Sometimes, the mediation process may take hours or even days. Once an issue has been tackled and resolved, be sure to note down the resolution. This will help you measure the progress of your mediation process.

Business disputes are inevitable. Find out how you can use mediation as a tool for mitigating business disputes.