Contractual disputes are common in business. No matter how well you plan or how carefully you draft your contracts in Minnesota, there is always a chance something will go wrong, and you could find yourself in a dispute. If you are in such a situation, here are some options available to resolve the discord.
Mediation is a process in which a neutral third party helps the two parties resolve their dispute. The mediator is not a judge and does not make decisions for the parties; rather, he or she facilitates communication and assists the parties in finding a solution that works for them. Mediation can effectively resolve contract disputes because it allows the parties to control the outcome and maintain their relationships.
This is a process where the conflicting parties submit their dispute to an arbitrator, who will make a binding decision based on the unique factors of the disagreement. Unlike mediation, arbitration is not a collaborative process; the arbitrator makes decisions for the parties.
A lawsuit is a formal legal proceeding where one party sues another party for damages caused by the contract breach. If you decide to sue your contractual dispute, you will need to file a lawsuit in civil court in your county.
Negotiation is an informal dispute resolution method that involves the two parties sitting down and trying to work out a solution themselves. Like other methods, you’ll need to find a neutral party to oversee and control your discussions. They will listen to both sides and recommend what you need to be on the same page.
If an agreement is reached, the negotiator will draft a settlement agreement that outlines the terms of the resolution. If you fail to resolve your dispute, the negotiator will provide a written report detailing what happened during the negotiation and why you couldn’t reach an agreement.
Solving contractual disputes in Minnesota can be a daunting task. However, you stand a better chance of getting what you want by collecting all the relevant evidence you need and laying out your points clearly, concisely and simply for everyone to understand.