The new Mediation Rules of the Finland Chamber of Commerce provide a straightforward, flexible and user-friendly framework for conducting mediation. Finland is a country known for its impartiality and dispute resolution know-how.
The Finland Chamber of Commerce launches today 1 June 2016 its Mediation Rules. The Finland Arbitration Institute that is part of the Finland Chamber of Commerce will administer mediations under the Mediation Rules.
Mediation is a voluntary and confidential process in which a neutral third party (mediator) assists two or several parties in settling their conflict or dispute amicably or in avoiding a conflict or dispute.
In mediation, the parties are in control of the process and its outcome. The mediator’s role is to assist the parties in finding an amicable solution by facilitating discussions, exchange of information, and negotiations between the parties. The outcome of a mediation, when successful, is a settlement agreement, which is binding on the parties as an agreement.
Mediation is often characterized as a user-friendly, flexible, straightforward, fast and cost-effective way of solving and avoiding conflicts or disputes. All businesses and industries may benefit from mediation. Mediation is suitable for the resolution and avoidance of both domestic and international conflicts and disputes regardless of their size and complexity.
A mediation process may have many positive effects for both business and private clients. For example, the use of mediation generally helps to establish and maintain good relationships between the parties.
“Companies are facing huge pressures to reform, cut costs and innovate. It is important they can focus on their core business, and not have resources tied up in some old disputes. However, it is not always possible to avoid disagreements, and when they happen, companies need to have an effective and cost-efficient way to resolve their disputes”, says Mrs. Heidi Merikalla-Teir, Secretary General of the Finland Arbitration Institute (FAI).
Unless so agreed by the parties, an agreement on FAI Mediation does not constitute a bar to any judicial, arbitral or similar proceedings. However, as a practical matter, initiating simultaneous judicial proceedings at the outset may impair the parties’ chances to benefit from mediation.
“Sometimes it happens that the parties even find new joint business opportunities during the mediation process. This is one significant advantage of mediation: business relations can be better maintained than with the other dispute resolution methods”, Mrs. Merikalla-Teir sums up.
Secretary General, The Finland Arbitration Institute
Tel. +358 40 750 6106