Dispute Resolution Agreements

Dispute Resolution Agreements are contracts that outline how parties will handle disagreements or conflicts that arise. Instead of going straight to court, these agreements often require the parties to try methods like mediation or arbitration first. Mediation involves a neutral third party helping them negotiate a solution, while arbitration involves a third party making a binding decision. The goal is to resolve issues more efficiently and cost-effectively, avoiding the lengthy and expensive court process. These agreements can be found in various settings, including business contracts, employment agreements, and consumer transactions.