Before initiating an arbitration or court litigation, consider mediation a natural first step in dispute resolution. Mediation is an informal, voluntary approach in which a mediator facilitates negotiations between disputing parties, helping them to find their own mutually acceptable resolution. What distinguishes mediation from other forms of dispute resolution is that the mediator does not impose the solution, but rather helps make it possible for the parties to craft and accept the solution themselves. Arbitration is a dispute resolution mechanism to help determine if aggrieved parties are entitled to recover damages. In arbitration, an impartial person or panel hears all sides of the issues as presented by the parties, studies the evidence, and then decides how the matter should be resolved.
Arbitration is final and binding, subject to review by a court only on a very limited basis.
Both mediation and arbitration benefit parties by providing prompt, inexpensive alternatives to litigation in the courts. Parties can choose NASD arbitrators and mediators who are carefully selected from a broad cross-section of people, diverse in culture, profession, and background. Inc. The subsidiary became operational in the Summer of 2000. NASD Dispute Resolution, Inc. has its own President, Linda D. Fienberg , and a six-person Board of Directors . It is subject to the same SEC oversight as the NASD, NASD Regulation SM , the American Stock Exchange , and The Nasdaq Stock Market .