1. Mediation
1.1. Advantages
1.1.1. Cost Effective: A lot of times mediation is charged hourly and can be resolved within a hew hours ("Construction Dispute Resolution Services', 2018).
1.1.2. Time Saving: Usually conducted in one or two days ("Lawshelf", 2018).
1.1.3. Easier Preparation compared to arbitration and litigation: Forms are not as lengthy and complicated("Construction Dispute Resolution Services', 2018).
1.1.4. No Attorney Necessary: Will only require a mediator vs. an attorney as with litigation ("Construction Dispute Resolution Services', 2018).
1.2. Disadvantages
1.2.1. Does Not Guarantee a Settlement and could lead to needing a court settlement ("Lawshelf", 2018).
1.2.2. No State or Federal Court Protection: Due to informality there could be lesser settlements than what could have been awarded in a court ("Lawshelf", 2018).
1.2.3. Cannot Set Future Legal Precedent: Will have no influence on future legal decisions ("Lawshelf", 2018).
1.3. Qualifications of a Mediator
1.3.1. A minimum of 10 years of senior level business experience (ADR.org, 2018)
1.3.2. Education degree and/ or professional license in area of expertise, appropriate to dispute (ADR. org, 2018)
1.3.3. Mediator training: Must present a certification or letter showing 24 hours of training (ADR.org, 2018)
1.3.4. Experience: Must have served as a mediator in at least five cases of served informally on four cases within the last two years (ADR.org, 2018)
1.3.5. Acccording to W. Skmkins and N. Fisandis, 1986 "Patience, Sincerity, Physical Endurance, Probing Skills and Wisdom'
2. Arbitration
2.1. Adantages
2.1.1. All Parties Agree on Arbitrator: Yo ensure the arbitrator is unbiased and fair (Allen, 2009).
2.1.2. Quicker Resolution than litigation: Arbitration can be set a lot sooner than obtaining a court date (Allen, 2009).
2.1.3. Private Procedure: Dispute can be kept confidential versus an open court hearing (Allen, 2009).
2.1.4. Binding: Arbitration will be the end of the dispute (Allen, 2009)
2.2. Disadvantages
2.2.1. Binding: Does Not Offer a Chance for Appeal: If one party is not satisfied with the settlement there is no chance to appeal it (Allen, 2009).
2.2.2. Can Be Uneconomical: Depending on the complexity of the case, arbitrator fee may be too high, making the settlement lower (Allen, 2009).
2.2.3. No Cross- Examination Opportunities: Evidence is presented in writing, leaving no opportunity for each side to question the other (Allen, 2009).
2.3. Qualifications of Arbitrator
2.3.1. Minimum of 10 years of legal practice or senior level business or professional experience ("Litigation Laws", 2018)
2.3.2. Education and/ or professional license in field of expertise ("Litigation Laws", 2018
2.3.3. Training or experience in arbitration or other forms of conflict resolution ("Litigation Laws", 2018
2.3.4. Membership in a professional association ("Litigation Laws", 2018
2.3.5. No conflict of interest/ Impartiality ("Lawyerclubindia", 2018).