New Jersey Mediation/Arbitration Lawyers
Arbitration and mediation are types of alternate dispute resolution (ADR) and serve as options to litigation in court. Each utilizes a neutral third party to assist the parties in resolving their disputes without court intervention. Although similar, there are subtle differences between the two. For example, in mediation the mediator’s role is to aid the parties in attempting to obtain a mutually acceptable settlement. An arbitrator, on the other hand, has the power to render a decision. A mediator is a facilitator whereas an arbitrator is a decision maker.
Another difference between the two forms of alternative dispute resolution is arbitration can be binding or non-binding. What this means is that if the parties submit to non-binding arbitration, either party has the right to reject the arbitration award and thereafter turn to the courts to make a determination as to the ultimate resolution of their matter. If the parties attend binding arbitration, the decision is binding on both parties, and, therefore, the parties waive their right to a trial before a judge.
Although in very rare cases mediation can be binding, it is generally a non-binding form of alternate dispute resolute that allows the parties and/or their respective counsel to work together to resolve their issues in a manner that is acceptable to all parties involved. If the parties come to an agreement at the conclusion of the mediation, the mediator drafts a Memorandum of Understanding that memorializes the terms of the parties’ agreement. Often, thereafter, one of the parties’ lawyers will draft a Settlement Agreement reflecting the terms of the Memorandum of Understanding, which will be incorporated into the parties’ Final Judgment of Divorce.
Regardless of whether mediation or arbitration is selected, each form of alternate dispute resolution is an acceptable way to resolve the parties’ difference in a manner that may be more efficient and less costly than litigation.
Given the complexities of Mediation and Arbitration in New Jersey, we advise you to contact one of our experienced mediation/arbitration lawyers at 973-627-7300 at Einhorn Harris today. We handle mediation and arbitration throughout New Jersey.