The paradox of Dispute Resolution is that early engagement is more cost effective in the long run. Formal disputes are rarely a ‘win’ for either party, and therefore, both management teams and their advisors (like IC&R) primary objective should be to avoid Formal Dispute.
Our team at IC&R, take a phased approach to dispute engagements (dispute with a little ‘d’). That is:
Negotiation
- Diffuse tensions.
- Build relationships with the counterparty.
- Outline 4 corners of agreement / disagreement.
- Manage expectations.
Mediation
- Typically, prescribed in the contract.
