The society demand practical, affordable and reliable alternatives to resolve disputes. The legislative sway is to encourage people to employ their free will to resolve their disputes by means of alternative dispute resolution methods. Globally, there is a growing sensitivity to the time and financial savings as well as long-term relationship benefits obtainable from a mediated settlement.
Recognizing that the empowerment to resolve disputes amicably and voluntarily is an expression of civil maturity, IIADRA has formulated in association with the Indian Institute of Arbitration & Mediation (IIAM), a “Pledge to Mediate” among companies and organisations as part of promoting best governance and speedy justice. The pledge is cost-free and not legally binding. Organisations stand to benefit from the following vital outcomes:
♦ Expression of Corporate Governance – A well defined system of dispute resolution and crisis management would demonstrate a competent in-house management system.
♦ Goodwill generation – Resolution of disputes amicably through mediation improves mutual understanding, resulting in transforming potential crisis into strengthened relationships and continued business opportunities.
♦ Creative solutions – Parties obtain value-added outcomes that go beyond financial remedies to meet their real commercial interests.
♦ Cost benefit – Mediating disputes can potentially avoid high costs of litigation and the risks associated with it.
IIADRA is pleased to invite all organisations and companies in India to become signatories of this Pledge. By doing so, the signatory makes a public, policy statement indicating its commitment to the promotion of amicable settlement of disputes.
The Pledge contains the following actions:
♦ Considering mediation as a first resort to resolve its disputes with other persons or organisations
♦ Inserting a mediation clause in its agreements and forms, whenever appropriate
♦ Displaying its name as a signatory to the Pledge on the IIADRA website
♦ Placing the IIADRA Mediation Pledge logo on its website, hyperlinked to IIADRA website
The organisation/ company can become a signatory by signing Mediation Pledge form and sending the same to IIADRA. For further information about the Pledge, click here or mail to email@example.com