Why might parties opt for mediation despite the lack of a binding agreement?

Parties may choose mediation primarily because it allows for resolution with minimal time and expense. Mediation is typically a more informal and flexible process than litigation, which can be lengthy and costly. It often requires less preparation and can be scheduled more easily than court proceedings. This efficiency makes it an attractive option for parties looking to resolve disputes quickly and without the high costs commonly associated with legal battles.

Choosing mediation does not guarantee a financial outcome for both sides; rather, it focuses on negotiation and compromise rather than imposed judgments. Additionally, mediation aims to reach an agreement rather than determining a decisive winner, fostering collaboration instead of competition. Lastly, mediation proceedings are generally private, meaning there is no public record of negotiations, which contrasts with court cases that typically become public. Therefore, the appeal of mediation prominently lies in its potential for a quicker and more economical resolution.