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ARWhat is Alternative DIspute Resolution or ADR?
#1. Any form of settling disputes outside the court system, whether formal or informal, can be called ADR.
#2. The most widespread ADR methods are Negotiation, Conciliation, Mediation, and Arbitration.
#3. Negotiation is when the parties to a dispute try to resolve their differences on their own by reaching a mutually agreed upon settlement.
#4. In Mediation too, the parties try to reach a mutual settlement, but facilitated by an impartial third party mediator.
#5. In Arbitration, like in Mediation, a third party is introduced into the picture. But unlike a mediator, an Arbitrator does not try to facilitate a settlement. Instead, the arbitrator will study the contract, listen to both parties and witnesses and finally write a reason award. This award is legally binding on both parties and is known as an 'Arbitral Award'.
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