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Everyone has disputes, but lawsuits are an expensive way to resolve them. As an alternative, some experts suggest that arbitration is the best remedy. There is another alternative: mediation. Arbitrations are typically more formal than mediation proceedings, and an arbitrator's decision can be binding by law. On the other hand, mediation allows parties the opportunity to resolve differences by mutual agreement, in a more informal setting. Here are some other guidelines when considering mediation.

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