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Mediation and arbitration
Alternative Dispute Resolution (“ADR”) can refer to any procedure for resolution of disputes out of court, including arbitration. 1 However, in the context of international commercial disputes (where arbitration is customary), the term is more often used to refer to methods of resolving disputes without resort to adjudication by either a court or an arbitral tribunal. ADR has become a prominent potential alternative to these conventional methods of dispute resolution because the latter are increasingly associated with unduly high costs. The term ADR is most commonly applied to procedures such as mediation or conciliation where parties negotiate a settlement agreement with the assistance of a neutral third party. Mediation and conciliation are the most common forms of ADR. Both terms have broadly similar meaning and are often used interchangeably. Mediation has now become the more common term (and the most common form of ADR) and accordingly this chapter deals specifically with mediation.
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