Characteristics of mediation:
Free of charge:mediation is free of charge to both parties if the claims involved do not exceed the maximum amount prescribed by the Court of First Instance (MOP100,000). (Fees will be charged according to the fee schedule of the Centre if the claims involved exceed the maximum amount prescribed by the Court of First Instance.)
Easy to implement:the arrangement of mediation is voluntary and a solution is reached through negotiation by both parties, this makes it easier for future implementation.
Fast and efficient:a mediation meeting is hosted by a mediator where both parties negotiate directly in a peaceful environment to save time.
Win-win situation:the solution is reached by an agreement which satisfies the needs of both parties, this lowers the risk of losing a lawsuit.
Characteristics of arbitration:
Free of charge: arbitration is free of charge to both parties if the claims involved do not exceed the maximum amount prescribed by the Court of First Instance (MOP100,000). (Fees will be charged according to the fee schedule of the Centre if the claims involved exceed the maximum amount prescribed by the Court of First Instance.)
Lawyer is optional:consumers and traders can choose whether to appoint a lawyer or not.
Fair : the Arbitral Tribunal is formed by independent arbitrators and the whole arbitration process is regulated by the “Regulations”.
Legally binding:the legal status and effect of an arbitration award is the same as that of a judiciary court order.