Below are answers to a few frequently asked general questions with regard to arbitration, mediation and the services of The Law Offices of Robert Wayne Pearce, P.A.
Disclaimer: Any words or data on this site shall NOT be deemed legal advice or direction. It is for informational purposes only
What are your practice areas?
Why should I hire you and your firm to represent me?
What do you charge clients for your services?
What is a Contingency Fee Agreement?
What is Arbitration?
What is Mediation?
The Mediator’s Role
The Mediator’s role is to steer the parties to an amicable resolution of their dispute. Oftentimes, the parties are emotional and irrational at the outset of any dispute because one or more of them have been deeply hurt and perceive the other to be responsible for their suffering. The first thing a Mediator will likely do is acknowledge the parties’ emotional states and empathize with each party to gain their trust and confidence. The next step in the process is clearly defining the issues of the dispute and each party’s position. Once the issues are defined and positions are stated, the Mediator will help the parties understand the strengths of the other side’s position and weaknesses of their own positions to begin the process of compromise. The Mediator may travel back and forth between the separate meeting rooms many times carrying questions, answers, demands, counter demands, offers of settlement and counter offers to help the parties narrow their issues and bridge the gap between the amount of monetary relief that will generally resolve the dispute.
The Benefits of Mediation
A good Mediator will focus the parties on the benefits of having them determine their own destiny than have someone else impose their decision upon them. Mediators serving in the resolution of FINRA arbitration proceedings generally have expertise in that industry and industry disputes. In most securities industry mediations, the Mediator is not constrained by any court rule prohibiting mediator opinions. A good securities industry Mediator should be able to define the issues, assess supporting and damaging facts so that the mediation can be successful in fully and partially resolving disputes. At the very least, mediation will help the parties understand their differences, lose their emotional connection, and become more rational and practical in their decision making. If a Mediator can help the parties toward that end, a partial or full resolution of the dispute may be possible at some point in time. The sooner a dispute is resolved, the more every party will benefit in terms of reduced personal distress and financial hardship. When a dispute is settled in arbitration or litigation, it typically translates into huge savings of personal strife, time and money for everyone involved.