Different methods for dispute resolution

Disputes and lawsuits are some of the last things a contractor wants to experience. They are expensive, time consuming, and distracting to the individuals involved and the company. And they rarely end in a way that makes either side happy. Unfortunately, disputes are sometimes unavoidable -- part of doing business in an industry fraught with risk and increasingly thin profit margins. So despite your best intentions, you may find yourself entangled in a dispute and you should know something about the three most common formal mechanisms for resolving disputes. The author used the word formal because the most common dispute resolution method is probably plain old negotiations.