Arb-Med is a hybrid dispute resolution process that combines the benefits of arbitration and mediation, including: speed, procedural flexibility, confidentiality, choice of decision maker, ease of access to the tribunal, continuity, finality, and enforceability of the outcome.
The primary objective of Arb-Med is the informed good faith negotiation and settlement of the dispute by the parties, with the initial assistance and efficiency of the Arbitral Tribunal’s information gathering powers, in the context of a formal arbitration process that will immediately resume if the mediation that follows is not successful.
BDT has developed Arb-Med Rules for the resolution of disputes that are robust and certain, yet innovative in their commercial commonsense approach to the challenge of combining arbitration and mediation in a single unified process that ensures the principles of natural justice are observed and a just, final, and binding decision is made.
The importance of a clear, well-structured and defined Arb-Med process that is carefully followed by the arbitral tribunal/mediator and understood by the parties is key and cannot be understated. Arb-Med, when structured and delivered in a way that ensures procedural certainty and efficacy, can provide disputing parties with the ‘best of both worlds’ and is an option well worth considering.