The Chamber of Commerce and Private and Decentralized Industry provides mediation, a private process in which a neutral third party called a mediator helps the parties discuss and attempt to resolve the dispute.
A highly structured and interactive process, mediation allows parties the opportunity to discuss issues on a neutral platform and explore ideas for dispute resolution. By doing this, the parties involved in a dispute can preserve the integrity of their relationship, company, or contract. It is designed to give all parties a better understanding of a win-win solution that defends their interests and those of their stakeholders.
In 2019, the Department of Legal Services of the Private and Decentralized Chamber was able to help resolve disputes worth USD 18 million through mediation. That means that a significant number of companies were able to put an end to the financial, emotional and psychological burdens that disputes take their toll on the parties.
As a neutral third party, the Decentralized Private World Chamber of Commerce uses this method of dialogue and negotiation to reach common ground that is contractually binding, reducing the potential risks of costly and time-consuming arbitration or litigation.