Commercial Mediation is a term used to describe, amongst other things, mediation between parties engaged in trade, commerce and sales. Commercial disputes most commonly arise over breaches of a commercial contract. These disputes may centre around large sums of money, though sometimes the dispute is for a smaller amount or even an issue that is not monetary at all.
To commercial entities reputation can be critical and therefore a confidential process of settling the issue may be preferable to open court, where the company may receive bad publicity.
Commercial mediation is the ideal forum for settling disputes where a party wishes to keep the issue confidential and/or wishes to maintain a relationship with the other side (perhaps the dispute is between their largest customer – going to court may destroy that future trading relationship).
Whilst some disputes may have to be litigated, the benefits of commercial mediation are almost endless and include:
Maintaining client relationships
Avoiding the risk of adverse cost orders (for more on this see here)
If you have a commercial dispute, whatever the size, contact us today to discuss the benefits of mediation.