Arbitration and Mediation – Alternative Methods of Settling Disputes between Professionals

Dragos Marian Radulescu

Knowledge Horizons - Economics, 2015, vol. 7, issue 2, 63-67

Abstract: Since ancient times people have made the trade, the need for those goods which they could not produce. Whether it is in kind or barter exchange or payment of goods with different amounts of money depending on their value, such activities were creating conflicts. Conflicts whose solution must be found quickly, because the lack of goods and trade could create problems in society. Such people, in the absence of a judgment of a State authority (either does not exist initial or later was too expensive and take too long until a definitive solution) resorted to various means of resolving conflicts, of which we will highlight whereas, mediation and arbitration. This study aims to investigate the efficacy of the two procedures to resolve conflicts arising between professionals and there are advantages and disadvantages for those who use mediation or arbitration.

Keywords: Litigation; traders; mediation; arbitration a court of law (search for similar items in EconPapers)
Date: 2015
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