![]() ![]() The exchange of information between the parties is simple, typically consisting of an exchange of position papers. The process is nonbinding and confidential. In mediation, the parties to a dispute agree to meet with an independent, impartial, mutually selected facilitator who works with them to reach a resolution. Parties may agree to settle disputes through mediation or arbitration by including a clause in an engagement letter or agree to ADR after a dispute arises. There are two primary ADR methods-mediation and arbitration. But is ADR more streamlined than civil litigation? Is a clause limiting the CPA firm's liability even enforceable? This column explores the benefits and drawbacks of ADR and the circumstances under which courts are likely to uphold a limitation-of-liability clause. Many also limit their damage exposure through limitation-of-liability clauses in engagement letters. More and more professionals are opting for alternatives to civil litigation for dispute resolution. You wonder if you could have avoided all this trouble by including such clauses in your engagement letter. You recall a colleague telling you about minimizing risk through the use of alternative dispute resolution (ADR) and limitation-of-liability clauses in engagement letters. Can anyone go online and see I've been sued? How is this going to affect my practice? What about the time away from the office sitting for a deposition or a trial, or talking with an attorney? How much is this going to cost? A thousand thoughts rush into your mind: A lawsuit is public record. The man greets you with a handshake and hands you a document. You figure it's just another client bringing in paperwork. ![]() Someone in the reception area wants to speak with you. You have clients to see, work to do, and deadlines to meet.
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