Dispute Resolution System (DRS) is a process in which dispute is resolved out of courts such as ‘ family mediation munich ’(also known as ‘familienmediation münchen’ in the German Language) or arbitration. This way of resolving the dispute is becoming popular nowadays. Even this method of resolving the dispute is quick and cost-efficient. It is a kind of alternative to traditional civil litigation.
What are the different types of Dispute Resolution System?
There are mainly two categories of dispute resolution:
Image Source: Google
In this process, the judge, jury or arbitrator finds the final outcome of the process. For example litigation or arbitration
Here the involved parties attempt to come to a conclusion. For example collaborative law, mediation, conciliation, or negotiation
The ‘Dispute Resolution’( also known as ‘streitbeilegung’ in German Language) in International Trade is:
- Legal Action
The different types of DRS programs are:
Here the two parties involved try to resolve the dispute without the intervention of others.
In meditation, there is a third party person who assists the disputants and tries to bring a mutually acceptable settlement between them. The work of mediators is not only to render decisions but also helps parties to come to an agreement by clarifying everything between them. Mostly persuasion and other conflict resolution strategies are used by them to resolve the dispute. Most of the disputes are resolved by mediation. According to a survey, settlements are reached over 80% of the time.
Image Source: Google
Arbitration is the best DRS method. Here what happens is parties decide to handover existing or future disputes to a neutral third party. This third part is known as an arbitrator. Arbitrator knows well about resolving the dispute.To know more about mediation click here.
If we talk about binding arbitration here the party’s arbitrator decision is a final resolution of the dispute.
In non-binding arbitration, the parties decide whether to go with arbitrator’s decision or to continue on to litigation.