The current economic conditions will have a noticeable impact on the ability to resolve disputes equitably and quickly. In a normal business atmosphere, all parties on a project have an opportunity to come together before a mediator to work out a resolution to a dispute. Resolutions might include some corrective work or monetary compensation. However, in the current economic climate, project funding is rapidly disappearing, and there is no money available to finance a dispute. Mediation doesn't work in these circumstances, because there's no bargaining chip and the opportunity and probability of settling through non-binding mediation goes down. So, for the foreseeable future, the number of cases going to binding resolution by an arbitrator will go up, because the opportunity to mediate resolution is simply not there.
展开▼
