Disputes can be related to any field. I am from the real estate sector, I can for sure that it is among the most litigious sectors. There are many ways to settle disputes out of court. They are also referred to as alternative dispute resolution. Given that in India, cases can be long drawn and a costly affair, it is best to look for ways to settle disputes out of the court. Some ways to solve disputes are:
●Negotiation: It is a process in which both the parties and their negotiators come together to resolve the dispute.
●Mediation: Being from the real estate industry, I can say that mediation is the most preferred way of disputes. A mediator is a neutral party that has nothing to do with either party involved in the dispute. A mediator listens to both parties and helps them to arrive at a resolution. It is non-binding in nature.
●Arbitration: Arbitration involves an impartial third party that hears both the parties and looks into the evidence and decides about the resolution. Though the decision of the arbitrator is legally binding on both sides, the decision remains confidential.
Nowadays, there are many dispute resolution services that help construction businesses manage their contracts and resolve disputes. The advantage of hiring a dispute resolution service that specializes in a particular sector like contraction is that they not only know the law but also know the nitty-gritty of construction. Such companies have contract managers, engineering experts, and legal attorneys on board.
