Running a business is not easy and sometimes business relationships can break down. As a result commercial disputes are an inevitable part of business life. If not dealt with properly, these commercial breakdowns can have a significant impact on your business, including hard to client and employee relationships, reputational damage and may even lead to expensive litigation.
While litigation remains the most common way of resolving commercial and business disputes it is better where possible to avoid going down the expensive litigation route.
Alternative Dispute Resolution is any process for the resolution of a dispute out of court. The simplest and most common form of ADR is direct negotiation, and this often leads to a solution.
Another approach for Alternative Dispute Resolutions commonly used is mediation.
Mediation occurs where all parties involved in the dispute agree to use a neutral third party to help solve the issues and try to come to an agreement. The terms of the agreement are decided between the parties with the guidance of a mediator.
Agreements reached through mediation are not necessarily legally binding but can become legally binding if all parties agree.
Here at Forensic Accounting we have a depth of experience in ADR and have expereicene across a broad spectrum of companies and business sectors. Our pragmatic and cost effective approach can help resolve even the most complex of disputes.
Contact us today for a discrete and confidential consultation about Alternative Dispute Resolutions.