Secrets of Power Negotiating

Chapter 35The Art of Arbitration

In the previous chapter, I told you how the mediation process works. Arbitration is similar to mediation in some respects but also very different in others. The similarities are that they are both much faster and less expensive than litigation. The big difference is that with arbitration, there will be a winner and there will be a loser. The parties don’t expect to go through arbitration and have the arbitrator suggest that they split their differences and settle. The arbitrator may work to have one or both sides modify their positions but eventually he or she must pick one side’s position over the other. Let me walk you through an arbitration so that you can see how it differs from mediation, which is simpler; ...