FACTORS OF DIFFERENCE ARBITRATION CONCILIATION MEDIATION Flexibility No flexibility, had to act as per the procedure considered in law High flexibility with the parties Flexibility with the parties but not as much in conciliation Legal power The awards are to be considered in judiciary proceeding also, so it had legal power. Not to be considered … Read more What is the difference between Arbitration, Conciliation, and Mediation?
Conciliation is limited to encouraging the parties to discuss their differences and to help them their own proposed solution. It’s an amicable way of resolving disputes. It is voluntary, flexible, confidential, and interest-based process. The parties seek to reach an amicable dispute settlement with the assistance of the conciliator, who acts as a neutral third … Read more CONCILIATION
Arbitration, is a form of alternative dispute resolution (ADR), it is a way to resolve disputes outside the courts. The dispute will be decided by one or more persons (the “Arbitrators”, “Arbiters” or “Arbitral tribunal” [“arbitral tribunal” means a sole arbitrator or a panel of arbitrators]), which will render/deliver the “Arbitration award”, It can be … Read more ARBITRATION