"Arbitration and Mediation in the Contemporary World"

Arbitration and mediation are alternative dispute resolution methods used to settle conflicts without going to court. Arbitration involves a neutral third party who makes a binding decision after hearing both sides, similar to a judge. Mediation, on the other hand, involves a facilitator who helps the parties communicate and negotiate a mutually acceptable agreement, but doesn’t impose a decision. In today’s world, these methods are increasingly popular due to their speed, cost-effectiveness, and confidentiality, making them suitable for resolving various disputes, from business disagreements to family issues, while preserving relationships between the parties involved.