Mediation and arbitration are two dispute-resolution processes in the negotiation of complex matters. Mediation is a confidential process where an independent and neutral third party assists the disputants to negotiate and reach a decision about their dispute. Arbitration is a formal dispute-resolution process governed by the Commercial Arbitration Act 1984 NSW (or the equivalent in other states) in which two or more parties refer their dispute to an independent third person (the arbitrator) for determination.
