Mediation- Time efficient
Mediation is very efficient and takes much less time than litigation or arbitration. On average a mediation takes six weeks from the appointment of the mediator. But if urgency requires, a mediation may take place and be finalized in a few days.
It is an informal procedure usually with one full day session and further sessions if necessary. Argument positions are exchanged directly or via the mediator. No exchange of long depositions, no hearings of witnesses or expert witnesses as with litigation or arbitration.
It is a flexible process which can accommodate the parties` wishes regarding the participants, the location, the language of the mediation and any other aspects, which they find relevant. If during a mediation the parties` representatives need to consult others about settlement possibilities, that is usually done by telephone. Contract terms can be amended by agreement between the parties. They can also discuss and settle other issues between them or make arrangements for cooperation in the future. It is also possible for the parties to reach partial agreement and “agree to disagree ” on other aspects, which they prefer to have decided by a court or by arbitrators,