When two parties are in disagreement, it can be difficult to come to a resolution that is satisfactory for both sides. In some cases, a third party is brought in to help make a decision and bring the matter to a close. This third party is often called an arbitrator or mediator, and their role is to listen to both sides of the dispute and make a decision that is fair and equitable.
Arbitration is a legal process in which a neutral third party, the arbitrator, is chosen by both parties to hear the dispute and make a decision. The arbitrator`s decision is typically binding, meaning that both parties must accept the decision and abide by it. This process is often used in commercial disputes, such as those between a business and a supplier.
Mediation, on the other hand, is a process in which a neutral third party, the mediator, helps the two parties reach a mutually acceptable agreement. Unlike arbitration, the mediator does not make a decision for the parties—they work together to find a solution that works for both sides. This process is often used in family law disputes, such as those involving divorce or child custody.
In either case, the person chosen to act as the arbitrator or mediator must be someone who is impartial, fair, and knowledgeable about the area of law or subject matter involved in the dispute. They must also be someone who is trusted by both parties to make a decision that is fair and just.
When choosing an arbitrator or mediator, it is important to look for someone who has experience in the area of law or subject matter involved in the dispute. For example, if the dispute involves a healthcare contract, it may be helpful to choose an arbitrator or mediator who has experience in healthcare law. Additionally, it is important to consider the arbitrator or mediator`s reputation, track record, and availability.
Overall, the person chosen to decide a disagreement between two parties plays a critical role in bringing the matter to a close. Whether acting as an arbitrator or mediator, this person must be someone who is impartial, fair, and knowledgeable about the area of law or subject matter involved in the dispute. With the right person in place, both parties can have confidence in the decision made and move forward with peace of mind.