Margaret Evans, Head of Corporate Law discusses finding a buyer in the part 5 of The Selling Process Series.
Alternative Dispute Resolution (ADR) procedures can be a very effective method in resolving your disputes whilst reducing disruption to your business and limiting costs.
At FDR Law one of our commercial litigation lawyers will identify with you the most appropriate method to resolve your dispute.
ADR procedures fall into four categories: -
- Expert Determination
Arbitration results in a decision that is binding on all parties and is based upon an agreement by the parties to have a dispute settled in this manner. There is no right to revert to the Court and the decision is imposed on the parties. Arbitration is a more final process than the other methods of ADR which generally require some form of consensus by the parties to reach a resolution.
A third party is appointed as a Mediator to assist the parties in reach their own settlement. A Mediator cannot impose a decision upon the parties but seeks to assist, through a series of both private and public sessions, the parties to achieve a mutually acceptable resolution.
Expert determination is most often utilised where the dispute is concerned with a technical issue. The Expert is appointed to review the parties’ submissions and information and then provides a binding decision which the parties have previously agreed to abide by.
This is a specialist method of resolving disputes within the construction industry. A third party Adjudicator is appointed to reach a decision on a specific issue based on the parties’ submissions.