Commercial mediation is when two conflicting parties, primarily in the world of business, go to an independent third-party to help them come to a resolution and solve their dispute. This is mostly the best way to resolve a conflict as it has many advantages, including speed, cost, and maintaining a good relationship. Here is what happens during a commercial mediation. More can be found here.
Agreement of A Place and Time to Meet
In coordination with the mediator, the parties will agree on an appropriate time and venue convenient to both parties, where the deliberations can take place. It has to be somewhere where everyone is comfortable and can talk freely. Discover facts about Everything You Need to Know About Mediation.
Agreement on The Way Forward
The parties will then agree on what procedures to follow. Whether it will be face to face or in different rooms with the mediator as the medium. They also commit to cooperate and, by all means, help to find a solution to the problem.
The Mediator Steps In
As time goes by and a clear picture is starting to form, the mediator now applies their expertise in steering the discussions to a settlement in which both parties can be happy.
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