Being a very effective tool for resolving commercial disputes, mediation is widely practiced around the world nowadays. The main piece of legislation governing settlement of commercial disputes on the international arena is the Singapore Convention on Mediation. Signed by forty six countries, it is a universally accepted legal mechanism which enables the parties to easily resolve their differences across borders.
Looking to get an indepth look at the mediation procedure? IQ Decision UK can help you do that and even more..
Introduction
Requesting to take part in mediation involves providing the parties with a brief summary of the dispute. Apart from that, the request should also include info relating to the parties involved & mediator.
Rules stated below apply to the parties intending to settle their commercial differences through mediation. They also provide for inserting a special clause specifying ways in which contracts concluded between the parties will be performed. The said rules may be changed by the parties whenever they want to do so.
Thinking about resorting to mediation for resolving a commercial dispute? Our lawyers are always at your service. Resolving a commercial dispute peacefully has never been easier.
How Mediators Are Appointed
If the parties have failed to appoint a specific mediator, IQ Decision UK is going to appoint one at its discretion. A mediator will be chosen based on the parties’ geographical location, the language in which the mediation procedure will be conducted & the mediation venue. A mediator will be appointed only if IQ Decision UK has received explicit consent of both parties. In specific cases, our company will be recommending appointing several mediators simultaneously.
Revealing Information
Mediators chosen by the parties or appointed by IQ Decision UK must inform them whether they stand to gain financial benefit or derive personal advantage through mediation. If they provide such information to IQ Decision UK, it will immediately replace them.
Ways in Which Parties Can Be Represented
Parties can be represented by any individuals chosen for that purpose by them. Representation by an attorney is optional. Normally, parties unrepresented by natural persons have a representative authorized to take decisions regarding dispute resolution.
Time & Location
A mediator is free to select when & where mediation sessions are going to be conducted. A venue for mediation is going to be selected jointly by mediators & parties involved.
Authorization of Mediators
Mediators are free to choose how the process of mediation will be carried out. Decisions that mediators make shall not be considered binding for parties involved. Mediators are free to hold meetings with both parties & provide oral & written recommendations regarding dispute resolution.
Privacy
Meditation sessions get held in private. Individuals having no relation to parties involved, including their representatives, can attend the sessions only if parties & mediators allowed them to do so.
How Confidentiality is Maintained
All mediation-related information received by mediators is considered confidential. Mediators may not be forced to reveal such information even when they must testify in a court of law. Both parties must maintain full confidentiality regarding the said information, too.
The following information cannot be revealed:
- Statements delivered by parties & mediators
- Confessions made by parties
- Facts & documents which can be regarded as evidence in a court of law
Responsibilities
IQ Decision UK & mediators bear no responsibility for omissions & actions made during the process of mediation.
How Rules Get Applied & Interpreted
Mediators can interpret & apply any rules provided they’re applicable to the process of mediation. As far as other rules & regulations are concerned, they will be chosen by IQ Decision UK.
Administration Fee
All mediation-related expenses & payments should be borne by parties in equal measure.
Are There Other Capacities Mediators Can Act In?
Unless mediators secure consent of parties involved, they may not act in the capacity of arbitrators or lawyers in any litigation connected to a dispute that is being resolved by means of mediation.
Other Forms of Litigation
Parties involved pledge to refrain from resorting to any forms of litigation regarding their dispute. The sole exception is made for cases where there is no other way of resolving a commercial dispute.
Applicable Legislation & Jurisdiction
Mediation is governed by the regulatory framework of the countries where it’s conducted. The courts of these countries are exclusively authorized to resolve any mediation-related claims, disputes & disagreements.
Conclusion of Mediation
Parties involved can decline to resort to mediation whenever they wish to. For that, they must notify each other & mediators in written form.
The process of mediation can be aborted if:
- Parties involved refuse to use mediation
- Mediators decline to use mediation
- A written agreement is concluded between parties involved about conclusion of mediation
Mediators can postpone rendering their services to let parties involved look into concrete proposals & obtain useful information. After that, they can resume their services upon receiving parties’ consent.
Resolution
No mediation-related resolution can be considered legally binding unless by parties involved agree to it in writing.
Need more info about mediation? Looking to resort to mediation for resolving a commercial dispute? Considering using mediator services for resolving a dispute? IQ Decision UK can do all that and a lot more.
