Definition of Mediation:
BAPMI's Mediation is a way of solving problems through negotiations between the disputing parties with the help of an impartial and independent third party - called Mediator. The Mediator does not make a decision on the matter; he just facilitates a meeting to help each party understands perspectives, positions and interests of the other party with respect to the problems faced and jointly seek a solution for settlement. The purpose of Mediation is the achievement of settlement between the disputing parties.
When to use Mediation:
Mediation can be used at any time at any stage of dispute settlement, which is at the time:
- after failure in deliberation;
- when the Sole Arbitrator/ Arbitral Tribunal offers a settlement effort in the first trial;
- before the Court Judge starts hearing the case (according to Supreme Court Regulation Number 1/2008);
- during Arbitration/ proceeding process to the extent of no award passed.
Reasons for choosing BAPMI's Mediation:
There are several reasons why the parties choose BAPMI's Mediation to resolve problems they face:
- the parties believe they will be able to resolve the problems they face based on their mutual win-win agreement;
- the parties want to maintain their present or future relationships;
- the parties seek for a solution with an interest-based procedure/ approach rather than a right-based procedure/ approach;
- the parties want to get a guarantee that the person who will facilitate the negotiation (Mediator) really understands the Capital Market sector and is an expert in Mediation;
- the parties want to resolve the problem in an easier, faster and more efficient way;
- the parties want to resolve the problem through a forum that is closed to the public;
- the Parties wish to avoid dispute settlement through litigation.