March 2018

MANAGEMENT TRENDS... from page 34.

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Arbitration is a more involved pro- cess in which the parties agree to have a neutral third-party act as a judge to resolve their dispute. Usually this process is done similar to trial but much quicker in time. All parties agree to the decision of the arbitrator as final and that decision is enforced by the courts if either party violates the decision. The arbitrator reviews documents, listens to witnesses testify much like in a trail but at a quicker pace. Arbitration

“Arbitration is a more involved process in which the parties agree to have a neutral third- party act as a judge to resolve their dispute.”

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is more formal than mediation but is still cheaper than litigation. The biggest difference between mediation and arbitration is that in arbitration the parties are bound by the decision of the arbitrator whereas in mediation it’s a negotiation. Both are useful tools for communi- ties to resolve differences however, popularity still resides with mediation. We find that parties can find common ground and co-exist in the same com- munity once their differences are aired out through communication. n

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