Mediation is an alternative dispute resolution method in which a neutral third party, a mediator, assists the parties (two or several) in settling their disputes amicably.
The mediator does not make decisions regarding the dispute. The mediator assists the parties in their negotiations. The outcome of a successful mediation is a settlement agreement, which is binding on the parties as an agreement.
The advantages of FAI Mediation are, for instance:
The Arbitration Institute of the Finland Chamber of Commerce (FAI) administers domestic and international mediations under the FAI Mediation Rules .
The parties may agree on mediation by including a mediation clause in their contract.
The parties may also agree on mediation after a dispute has arisen between them.
You can view the FAI model mediation clause here.
If the parties fail to settle the dispute in mediation, or do not continue with the mediation, they may seek to finally settle the dispute in court or through arbitration as the parties may agree.
Costs of FAI Mediation include:
The parties share the FAI Mediation costs equally, unless otherwise agreed.
The FAI administers domestic and international mediations under the FAI Mediation Rules.
A party or parties must pay a Filing Fee when filing a Request for Mediation. The Filing Fee is normally non-refundable.
Information about the Filing Fee can be found here.
Payment is made to the FAI by bank transfer, the details of which can be found here.
If you wish, you may use the Request for Mediation form, which can be found here. More info on how to initiate a mediation can be found here.
Provide an Answer within 15 days of receipt of the Request for Mediation.
If you wish, you may use the Answer form, which can be found here.
More information on confirming settlement in an arbitral award is available here.
After the termination of the FAI Mediation, the FAI will pay the costs of the mediation from the advance on costs.
The FAI shall reimburse the parties for any amount the parties have paid as an advance on costs that exceeds the total costs of the mediation.
If the advance on costs does not cover the total costs of the mediation, the FAI and/or the mediator will send an invoice for the remaining amount to the parties.
Invoiced fees must be paidwithin 30 days from the termination of the mediation.