Mediation and Arbitration

Mediation is defined as an intervention to settle a dispute: the intervention by a third party between two sides in a dispute in an attempt to help them reach an agreement (www.msn.com). Arbitration is defined as the process for resolution of disputes: the process of resolving disputes between people or groups by referring them to a third party, either agreed on by them or provided by law, who makes a judgment (www.msn.com). The definitions have been established and it is now time to ask a few questions. What are the advantages and disadvantages to mediation and arbitration in the effo…