Advantages of Mediating International Trade Disputes’ for International Trade Council
Elsewhere on the International Trade Council website Resolving Trade Disputes - International Trade Council there is further detail as to what mediation (and arbitration) are and how they work in practice. In headline terms mediation is a facilitative dispute resolution process where the parties meet with an independent third party who looks to help them reach a mutually acceptable agreement to resolve their differences. It is a voluntary confidential process that can be much quicker and cheaper than other dispute resolution methods. Mediation is one of a series of dispute resolution processes caught under the wider umbrella term of Alternative Dispute Resolution ‘ADR’ (some prefer the terms Amicable Dispute Resolution or Appropriate Dispute Resolution but it is suggested that the widest used of these three terms is the former phrase Alternative Dispute Resolution). The reference to alternative arises in the context of distinguishing the particular ADR method from traditional court litigation. It is important to note that mediation, or any other ADR process, such as but not limited to arbitration, will not always be successful; but that mediation does enjoy a high success rate.
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