A commercial dispute can arise in varied circumstances. There are numerous types of commercial disputes. Some of the different methods that can be used to resolve a commercial dispute include:
- Negotiation – this can involve the parties in direct discussions or through legal representatives. Having ‘without prejudice’ negotiations can lead to more realistic discussions. Other discussions can be ‘open’. Consideration needs to be given to whether negotiations can be used in any Court process.
- Mediation – this involves a more formal process where a third party mediator is appointed by the parties by agreement to assist the parties to endeavour to resolve the matter. Mediators have different areas of speciality, and depending upon the parties, different types of mediators can assist. Often a mediation will be attended by the mediator and also the parties and their legal representatives. There are a variety of ways in which a mediation can proceed.
- Expert determination – the parties can refer a dispute for expert determination. For instance, there may be an expert determination of the value of an asset. The parties may submit to the outcome of the determination. The advantage of expert determination is that it can avoid the costs and time involved in litigation.
- Litigation – there are a variety of types of litigation depending upon the nature of the dispute. There are different Courts and Tribunals established to resolve different types of disputes.
For an obligation free discussion regarding a commercial dispute, please contact us on 1800 180 500 or firstname.lastname@example.org