Arbitration is a formal dispute resolution process in which two or more parties refer their dispute to an independent third person, called (the arbitrator) for determination.
Mediation
Mediation is facilitated negotiation. It is a confidential process through an independent and neutral party “mediator” who assists the disputants to negotiate and reach a mutually agreed upon resolution to their dispute.
Adjudication
The legislation provides for a compulsory statutory adjudication and aims to facilitate cash flow in the industry. Parties will be able to obtain a quick interim decision with regards to progress payment disputes.