Why mediate? What stops businesses from mediating disputes? These were some of the questions posed to an expert panel at the ICC Mediation Rules Launch last week.
The most obvious reason to mediate is because it is efficient. Over 74% of matters filed with the ICC ADR program reach settlement once a mediator has been engaged. Matters are generally resolved within 4 months of the mediator receiving the file, and on average, the cost of mediation is less than 1% of the amount in dispute.
“Go to the law for a sheep and lose your cow” – German Proverb “Go to mediation for a sheep, and have it shorn by someone else” – John Rundell, MD, Stratica International Pty Ltd. image by Christian Guthier
So what is stopping businesses from choosing mediation? Delcy thinks the following misconceptions may play a role:
Mediation is only for “small disputes”
Amicable dispute resolution works…
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