What are the Benefits of Alternative Dispute Resolution (ADR)?
Alternative Dispute Resolution (ADR), which includes negotiation, mediation, and arbitration, offers several benefits over traditional litigation:
Cost-Effective: ADR methods are generally less expensive than court proceedings. Time-Saving: ADR can resolve disputes more quickly than litigation. Confidentiality: ADR processes are private, helping to protect the parties' reputations. Flexibility: ADR allows parties to tailor the process to their specific needs. Preservation of Relationships: ADR promotes cooperative problem-solving, which can help maintain business relationships.