The Importance of Using Mediation in Business Disputes During a Pandemic
Abstract:
In the conditions of the pandemic, the timely settlement of business disputes, which is achieved with the help of mediation, became especially important.
The aim of the study is to determine the importance of the institution of mediation in the context of the spread of the coronavirus and the overload of business dispute cases in the courts. The issue is interesting given the legislative changes in mediation.
Research has shown that mediation has become particularly attractive to businesses during the spread of the coronavirus. This was due to the following features: Unlike litigation, mediation is faster, cheaper, calmer and more effective process focused on the interests of the parties. Mediation confidentiality is aimed at protecting confidential data and maintaining the ongoing relationship between the parties, as well as strengthening the parties’ trust in mediation.
By European standards, Georgia has created a new reality. In 2020, a new law on mediation came into force, which has already been successfully used by several businesses and resolved ongoing disputes over the years.
However, the use of remote mediation has become urgent in the face of the threat of the spread of the coronavirus. Procrastination in litigation during a pandemic can have major negative economic consequences for businesses. Therefore, in terms of prevention of negative effects and timely review of disputes, it is advisable to use a tool of mediation.
Keywords:
Coronavirus, Mediation, Litigation