ADR 101 PART 3: TYPES OF ALTERNATIVE DISPUTE RESOLUTION MECHANISMS
Last week, we talked about mediation and arbitration as part of our journey through Alternative Dispute Resolution (ADR). As I mentioned, this week we’re wrapping up the series with the final part, where I’ll be diving into negotiation , conciliation , and traditional dispute resolution mechanisms . 1. NEGOTIATION Negotiation is an informal and voluntary way for two or more parties to solve a dispute by talking directly to each other. Since there’s no third party involved, it’s usually faster and more affordable. The main aim is for everyone to agree on a solution that works for both sides, through open discussion and compromise. Negotiation is applied in many areas of industry, from business transactions and workers strikes to court settlements and family disputes Its characteristics include being informal, voluntary, and centered around the parties involved. It allows two or more sides to resolve disputes through open dialogue without a judge or arbitrator. The pro...