What is Mediation?

If you want to settle a dispute outside of court, mediation is a great alternative. Mediation takes skilled practitioners to convince the parties that settlement is in their best interest. It can be relatively quick, easy and inexpensive. Mediation works if it approximates the likely result that would occur through an arbitration award or court adjudication. It works best if the proper time and effort is devoted to it. However, it is a voluntary process that must be coupled with arbitration or court adjudication to be effective, because the ultimate hammer, if the parties do not agree at mediation, is resolution by decree ( that means either by arbitration or court determination). Murrin Law Firm offers a variety of mediation and arbitration services.

What is Arbitration?

A confidential legal process used to avoid settling a dispute in court. However, the neutral third party is appointed to review the case and make a final decision in favor of one of the parties. The arbitrator renders a decision that is generally binding and cannot be appealed. The process is more formal than mediation, although it is still usually less formal than litigation in the traditional court system.

What is the Difference

Murrin Law Firm is experienced with both FINRA mediation and FINRA arbitrations. We have handled numerous arbitrations and mediations for the best interest of the clients. Given the choice, most of us prefer to avoid litigation if at all possible. It is a lengthy and expensive process. There are alternatives however. The two most widely used forms of Alternative Dispute Resolution (ADR) to avoid litigation are mediation and arbitration. It is essential to know their similarities and differences when choosing the right process for your specific situation. Today, arbitration spans many crucial areas of law and it is essential you have a practitioner with experience in both mediation and arbitration.

Similarites Between Arbitration and Mediation

Arbitration offers many of the same benefits as mediation. Both allow disputing parties to settle their conflicts outside of the traditional court system. Mediation and arbitration are also similar in that they both:

  • Can resolve disputes quickly and usually less expensively that litigation.
  • Are confidential proceedings in which the resolution doesn’t become a matter of public record.
  • Use a neutral third party (arbitrator or mediator) to oversee the proceedings.
  • May result in legally enforceable resolutions.
  • Require voluntary participation from the disputing parties (unless a mediation or arbitration contract has been previously signed).

We provide service in the following areas

We handle your case on a contingency fee basis, which means we will get paid only if we succeed in getting a recovery for you. There are some costs clients must cover. If you have more questions or would like us to review your case Please Call