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Chicago Arbitration and Mediation Attorney

Cook County commercial arbitration and mediation lawyer

Illinois Lawyers for Commercial Dispute Resolution

When commercial clients are involved in legal disputes, they may need to litigate to ensure that these matters will be resolved in a way that protects their rights and interests. However, traditional litigation may not be an option due to a contractual mandatory arbitration clause or court-ordered arbitration. In many cases, these alternative dispute resolution (ADR) methods can provide a more streamlined, cost-effective way to address and resolve legal issues. Both arbitration and mediation involve the intervention of a neutral third party who renders judgment on a client's dispute or helps both sides to come to an agreement that is mutually beneficial.

Teller, Levit & Silvertrust, P.C. provides representation for commercial clients who are looking to resolve disputes as efficiently as possible. Both arbitration and mediation have their pros and cons, and we work to help our clients understand their options and navigate the arbitration or mediation process. Ultimately, our goal is to resolve disputes in a way that protects our clients' rights while minimizing the time and expense needed. With over 100 years of history representing clients ranging from small businesses to Fortune 500 companies, our firm has the knowledge and experience needed to resolve legal disputes when arbitration is required by contract or the courts.

What Is Arbitration?

Arbitration is a form of dispute resolution in which a neutral third party hears both sides of the case and makes a decision on how the matters in question should be resolved. Depending on the type of dispute to be resolved, the arbitrator may be a legal professional such as a retired judge, or they may be another person who has experience in a particular field.

Arbitration is similar in some ways to courtroom litigation, and each party may provide testimony or present evidence. However, the proceedings will usually be less formal, and rather than deciding solely in favor of one party, the arbitrator may seek to craft solutions that will benefit both parties while encouraging them to cooperate as much as possible.

Depending on the decisions made by parties who are seeking to resolve disputes, arbitration may be either binding or non-binding. In binding arbitration, the decisions made by the arbitrator must be followed by both parties. In non-binding arbitration, the parties will be encouraged to accept the arbitrator's decisions, but either party may choose to proceed with litigation if they are unsatisfied with the outcome of the case.

What Is Mediation?

In contrast to arbitration, mediation is a more collaborative process in which a mediator helps the parties to reach agreements and create a settlement. The mediator will be a neutral third party who will encourage communication and collaboration between the parties. They may offer suggestions on how certain matters may be addressed, or they may encourage each party to make compromises and find solutions that will be mutually acceptable. However, the final decisions about the settlement will be up to the parties, and the settlement will only be legally binding if both parties are in full agreement on all terms.

Contact Our Illinois Commercial Dispute Resolution Attorneys

While arbitration is often faster than litigation, it can be less flexible and more expensive depending on the arbitration forum, and it may not result in a resolution that is acceptable to both parties. Mediation, on the other hand, tends to be more time-consuming, but it can be more flexible, and it may result in a settlement that is mutually agreeable. It is important for commercial clients to understand the terms of their contracts and the pros and cons of arbitration and mediation before making a decision about how to proceed with the dispute resolution process.

At Teller, Levit & Silvertrust, P.C., we can represent clients in both private arbitration and court-ordered arbitration. We can provide strong, effective representation during arbitration or mediation, helping clients reach cost-effective settlements that will allow them to move forward successfully. Whether your dispute may be resolved through arbitration, mediation, or other methods, we can help you understand the options available and navigate the process with confidence. Contact us today at 312-922-3030 to learn more about how our team of experienced attorneys can help you achieve the results you need.

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