Financing your mediation
We understand that the potential costs of progressing with Mediation will be a key consideration to the participants in Mediation. We would be pleased to discuss any questions that you have concerning costs prior to committing to Mediation.
Upon enquiry, we can provide you with an estimate of the fees, which will be tailored to your specific case. These fees will vary depending on a combination of factors including the anticipated time preparing for and spent at the Mediation and the complexity and value of the dispute between the participants.
At PR Mediation, we will be pleased to provide you with an estimate for our fees of a Mediator being appointed to deal with a Mediation ranging from 2 hours to one day, or longer.
The costs of mediation will be split between the parties. Where a full day Mediation is booked, additional charges will be made after an 8 hour mediation day, together with travelling and other out of pocket expenses. Payment must be made at least 72 hours in advance of the Mediation, the terms of such payment being subject to and set out within the Mediation Agreement.
The costs of the Mediator, as mentioned above, are generally split equally between the participants.
Additional Costs to Consider
There may be further costs that you will incur, in the event that your Solicitor or Accountant (or other professional adviser) attends the Mediation and such costs will be yours to cover. There may also be a cost of hiring rooms to provide a suitable venue for the mediation. Paul Robinson Mediation is able to offer purpose built facilities for mediation.
Mediation costs compared to proceeding at Court
An average Court claim for a contract dispute for approximately £20,000, could involve costs being incurred by both parties involved that are equal or greater than the amount in dispute. The costs of conducting litigation at court can quickly come disproportionate to the amount of the claim. Alongside Solicitor’s fees, there will be disbursements such as court fees, counsel’s fees and perhaps expert’s fees which will have to be covered. Hand in hand with the costs of litigation go the risks of the ultimate decision that a Judge may make in respect of assessing costs. The general rule is that even if you are successful in your case, that you will not recover 100% of costs incurred, but more likely between 60 – 70% of costs.
Against this, the rather more nominal fees of Mediation will undoubtedly appear attractive.
Mediation can potentially save you costs - both in money and time.