A Define the term alternative dispute resolution ADR and lis

(A). Define the term “alternative dispute resolution” (ADR), and list and discuss the advantages of using ADR to resolve business disputes;

(B). List and discuss the limitations or drawbacks of using ADR to resolve business disputes; and

(C). Although there are many forms of ADR available, list and define or explain the three (3) main forms of ADR that businesses most frequently use to resolve their disputes. For each of these three (3) main forms of ADR, explain the process, the role of each participant, any options available to the parties using that form of ADR, any unique advantages and/or disadvantages to using that form of ADR, and the consequences of any outcome or decision.

Solution

(A)

\"Alternate dispute resolution\" (ADR), is a method of resolving dispute other than using the means of litigation. Public courts are asked to review the vaildity of any ADR methds, but generally decisions are not taken against any ADR methods in cases where parties have decided to resolve the dispute and have signed a contract.

There are several advantages of using ADR. Some of the advantages of using ADR are as follows:

(B)

Following are the limitations or drawbacks of using ADR:

(C)

Three main forms of ADRs are as follows:

Mediation:

Arbitration: