Arbitration and Mediation Services
Arbitration and mediation services are occasionally required by business owners and companies to resolve various business disputes. In Israel’s economic and business environment, as in any other part of the world, financial and commercial disputes are an inseparable part of doing business. One of the most “elegant,” cost-effective, and swift ways to resolve conflicts or business disputes is by turning to a mediator or arbitrator for arbitration and mediation services.
Unlike court proceedings, which are often lengthy due to heavy caseloads and can extend over years, the arbitration or mediation process is typically quicker and more focused, providing a significant advantage.
One of the main differences lies in who makes the final decision. In arbitration, the decision is made by the arbitrator, mutually agreed upon by both parties, and is typically binding and non-appealable. In mediation, however, the decision is reached by the parties themselves, with the mediator helping them arrive at a compromise that is mutually acceptable, while maintaining the relationship between them.
Arbitration is very similar to a legal trial, usually without the need for formal rules of evidence or detailed reasoning for the decision. The process typically begins after a legal claim is filed, and arbitration can be initiated either by mutual agreement of the parties, at their initiative, or upon a judge’s recommendation. Arbitration is often conducted with legal representatives present, including statements of claim and defense, but in a less formal and more focused atmosphere, allowing for faster decision-making.
Mediation is a less formal process compared to arbitration. There is no obligation to continue the mediation once it has started, and either party may terminate it at any time. Mediation also considers important aspects beyond the dispute itself, aiming to preserve the relationship between the parties. This makes it particularly suitable for family members or close friends who wish to resolve their conflict while maintaining their relationship.
Given these fundamental differences, mediation tends to be significantly more cost-effective than arbitration or litigation, as it reduces legal fees that can accumulate over time and resolves financial disputes more quickly. Additionally, it offers the advantage of reducing emotional stress and burden for both parties.
Michael Weizman, CPA, the head of our firm, is a member of the Arbitration and Mediation Center of the Israeli Institute of Certified Public Accountants, with extensive experience in providing arbitration and mediation services, primarily in economic and accounting matters. Our services are provided professionally and discreetly, in a pleasant and relaxed atmosphere. We offer ideal conditions for conducting these processes, including a spacious, fully equipped conference room. We are committed to concluding the process as quickly as possible, ensuring smooth and efficient proceedings.
An expert from our firm will be happy to assist you with this service. Contact us today for a no-obligation consultation.