Mediation is far more cost effective than litigation because:
- All costs of the mediation process are shared between disputing parties.
- Parties are focused on a common goal – resolving the dispute, not winning the case, therefore less time is spent mediating.
- There is no risk of dominoes falling – the process can be terminated by either party at any stage.
- The settlement agreement can be made an order of court, on an unopposed basis, thus at the fraction of the cost of litigating.
What will Mediation cost you
- Mediators are selected by the parties and their fees are charged according to their expertise and skill; thus, parties can select less expensive mediators for less complex matters.
- Mediation sessions are at least an hour, preferably 90 minutes
Costs will include
- Hourly tariff of mediator per session
- Time spent reading documents – charged per 15 minutes of the hourly rate
- Time spent drafting documents / letters / emails – charged per 15 minutes of the hourly rate
- Time spent on telephone calls – charged per 5 minutes of the hourly rate
- Travelling costs if necessary
- Venue costs if necessary