Private mediation is a good option for some parties who require guidance in the event of a dispute. The mediator will play a neutral role and simply guide both parties to reach a resolution that is beneficial. Most construction and turnaround services will offer assistance with mediation proceedings. Here are some advantages and methods of private mediation.
Litigation can be very costly and often take many years. Private mediation, however, is affordable and will help both parties reach a settlement in a shorter period. Both parties also have control of their situation, which means that both parties know what they are willing to forgo and gain from the agreement. If the parties agree, a mediation agreement is drawn up, and it serves as a legal document for the future.
Private arbitration is a form of mediation where a neutral arbitrator is chosen to handle the entire dispute. If this is not an option, each party can choose an arbitrator, and their arbitrators will select a neutral person to chair an arbitration panel.
Private settlement services offer a combination of both of the above methods. Private settlement services are contacted when parties are in litigation, but the parties realize that a settlement will be in both of their interest. Private settlement services will commence with a settlement facilitator who will split the parties into separate rooms and go back and forth with offers. Usually, the settlement facilitator is an experienced attorney and therefore can provide a candid assessment of the situation.