Three Signs You Should Try to Mediate a Contract Dispute
In Florida, mediation is “is an informal and non adversarial process with the objective of helping the disputing parties reach a mutually acceptable and voluntary agreement” (Florida Statutes § 44.1011). If you are locked in a contract dispute, mediation may be the best option to find a cost-effective, efficient solution. Here, our Miami business mediation attorney highlights three big signs that you should try to mediate a contract dispute in Florida.
- You Want to Resolve the Matter as Soon as Possible
Contract litigation can be a slow, even frustrating process. Even if you have a very strong case—meaning you can prove breach of contract and you can establish your damages—a full trial is not fast. If time is a critical factor, mediation presents a much faster option. Mediation sessions can be scheduled as soon as all parties are available and willing. Notably, they can also often be concluded within a day or a few sessions. The comparative speed of mediation can be a big benefit.
- You Want to Reduce Your Risks and Costs
Litigation is not only time-consuming but also expensive. Legal fees, court costs, and other related expenses can accumulate quickly. For this reason, breach of contract litigation is high-stakes. Beyond that, litigation has the potential to be unpredictable. You should never assume guaranteed success at the outset—even if you are confident that you have a strong case. Mediation can be a tool to reduce costs and reduce risks. Your company can negotiate directly with the counterparty.
- You Want to Preserve a Commercial Relationship
In contrast to litigation, mediation is non-adversarial. One of the unique benefits of mediation is its capacity to preserve, or even strengthen, business relationships that might otherwise be damaged by the adversarial nature of litigation. In many business disputes, the parties involved have a vested interest in maintaining a professional relationship after the dispute is resolved. Mediation can be especially effective in these cases. You may be able to settle the matter and move forward.
Commercial Mediation in Florida in Non-Binding
Commercial mediation in Florida is a non-binding process. If you are involved in a breach of contract dispute, you can use mediation to make an attempt to reach a voluntary settlement. Agreeing to enter the mediation process does not bind either party to using it to resolve the underlying contract dispute. Both parties have the right to withdraw from mediation if a settlement cannot be reached. During the process, a neutral mediator assists the disputing parties in reaching an agreement, but that mediator does not have the authority to render a verdict.
Contact Our Florida Mediation Lawyer for Businesses Today
At Pike & Lustig, LLP, our Florida business attorney has extensive experience helping companies navigate contract disputes. If you have any specific questions or concerns about mediation of a breach of contract case, we are here to help. From our business law offices in Miami and West Palm Beach, our attorneys handle mediation throughout Southeast Florida.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0044/0044.html
