MGTS-312 Lecture 2: Block23
Document Summary
Not useful if there is a big diference in power between the parties (ie. big company against an individual) All relevant information may not necessarily be brought forward, no obligation to do so. Ofers can be made by either side at any time even during a trial! Informal ofers v. formal ofers using the rules of. Formal ofers - if the matter goes to court, having refused a reasonable formal ofer may result in a cost penalty from the judge. Ofers can be made without prejudice means they will not prejudice your position if the matter goes to court. Neutral third party facilitates a discussion between the two parties. From accredited organizations, both parties must agree on a mediator. Mediation can be made mandatory" by agreement in a contract. Mediation may be required by the courts in certain types of disputes. An independent third party makes a binding decision, but decision is still private.