With the October 25, 2010 enactment of the Commercial Mediation Act, 2010, S.O. 2010, c. 16, Sch. 3 (“CMA”), parties settling a commercial dispute through mediation will be able to register their settlement agreement with the court, gaining the advantage of having it treated like a judgment for enforcement purposes. The CMA also provides parties involved in the mediation of a commercial dispute with more certainty about the appointment of mediators, the conduct of the mediation and the confidentiality of the process.
A commercial or civil dispute, whether it be millions or a few hundred dollars can financially cripple or even in the worst case scenario unfortunately bankrupt a business or person. The longer the dispute goes on the more it will fester and become a nightmare, possibly becoming increasingly complicated and more stressful by the nature of the dispute, the number of parties involved, the number of individuals including personal relationships and other businesses it will affect.
Our mediators understand the core of the commercial mediation may superficially be about balancing the commercial and legal elements of an entrenched dispute.
Mediation can allow the relationship between disputing businesses to outlast the dispute. The very process of arriving at a consensus decision can be the foundation for the parties to continue to do business together. Going to court destroys relationships.
Issues which may be too complex or technical for a judge to grasp in the rushed atmosphere of a courtroom can be handled in mediation. In the commercial world, time, money and relationships mean everything. Therefore it is imperative to resolve a commercial dispute as soon as possible so that it has minimal impact upon the commercial relationship.
Our mediators possess expertise in: Commercial contracts (including sale of goods), partnership disputes (professional services and small and family businesses), mergers and acquisitions, joint ventures, employment (inc. public disclosure, disability, discrimination, dismissal), professional negligence, multi-party and large groups including consultation on contentious issues.