Alternative dispute resolution (ADR) as its name suggests the alternative way to resolve your disputes. So, ADR refers to a variety of processes that help parties resolve disputes without a trial. Typical ADR processes include arbitration,mediation,neutral evaluation, and collaborative law. These processes are generally confidential, less stressful,and less formal than traditional court proceedings.
Advantages of Alternative Dispute Resolution
There are several boons to ADR for both individuals and businesses.
- ADR processes do not require to hire witnesses, attorneys or experts which makes it cost-effective and it’s quickness reduces the time, thereby avoiding long-drawn litigation costs.
- The Court cases are public, which leads to a lack of Secrecy but in ADR it remains confidential. This can be beneficial for all personal and business reasons.
- The parties have the freedom to choose their mediator,arbitrator, or conciliator which means that they can select an expert who has experience in the field of their dispute rather than just having someone who has technical and procedural know-how.
- There is more flexibility in the schedule, as there are fewer people involved and no jury needed, ADR generally takes less time than a court case.
DISTINCTION BETWEEN DIFFERENT TYPES OF ALTERNATIVE DISPUTE RESOLUTION (ADR) SYSTEMS
Arbitration and mediation operate within very different paradigms. To adopt the foremost acceptable dispute-resolution strategy for a potential or existing dispute, parties should understand the distinction between the procedures and determine which is most appropriate to the circumstances of the conflict.
This content is meant for information only and should not be considered as an advice or legal opinion, or otherwise. AKGVG & Associates does not intend to advertise its services through this.
Posted by: CA Neetu Saini