Commercial Mediation: How does it work?
Parties to a dispute can agree at any time to try mediation to settle the issues on their own terms, with the help of a mediator.
Typically, the mediator will speak to the parties in advance and clarify what documents or advisors to bring on the day. The parties sign a mediation agreement and a date and venue are agreed.
The mediation itself is a combination of joint and private meetings, during which the parties work with the mediator to explore possible ways forward. When the parties reach agreement, this is recorded in writing and signed.
All matters discussed during the mediation remain confidential, therefore preserving the parties’ reputation and business sensitive information.
