Arbitration, Mediation and Conciliation
Arbitration is an alternative method of dispute resolution in which the parties involved agree to submit their dispute to an arbitrator or panel of impartial arbitrators. These arbitrators issue a final and binding decision, called an arbitration award, which resolves the dispute. Arbitration takes place outside of conventional courts and offers a quicker and more private way of resolving disputes, avoiding a formal trial.
Mediation is a process in which a neutral third party, known as a mediator, assists the parties in conflict to reach a mutually acceptable agreement. The mediator facilitates communication and dialogue between the parties, but does not impose a solution. The goal of mediation is for the parties to find a mutually satisfactory and consensual solution, preserving their relationship and avoiding protracted litigation.
Conciliation is a method of conflict resolution in which an impartial third party, called a conciliator, intervenes to facilitate communication and negotiation between the disputing parties. The conciliator seeks to identify the interests and concerns of the parties and proposes solutions that can satisfy both parties. Unlike mediation, the conciliator can suggest solutions and plays a more active role in the conflict resolution process.
In summary, arbitration is a process in which an arbitrator issues a binding decision to resolve the dispute, mediation is a process in which a mediator assists the parties in reaching a mutually acceptable agreement, and conciliation involves the intervention of a conciliator to facilitate communication and negotiation between the disputing parties. These alternative dispute resolution methods offer more flexible and less formal options than traditional judicial courts.