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Negotiation is the most common method of resolving most legal disputes. It involves one party attempting to create a resolution through one-on-one conversation. Like most forms of dispute resolution, negotiation permits a variety of solutions and is done in private.
DRP is an acronym for Dispute Resolution Procedure. Dispute Resolution procedure is a process used to settle conflicts between two or more individuals or organizations.
The DRP is an Alternative Dispute Resolution (ADR) mechanism for resolving disputes related to Transfer Pricing in International Transactions. This Panel has been set up with a view to providing speedy disposal of cases in a fair and just manner.
Here's a review of the three basic types of dispute resolution to consider:Mediation. The goal of mediation is for a neutral third party to help disputants come to a consensus on their own.Arbitration. In arbitration, a neutral third party serves as a judge who is responsible for resolving the dispute.Litigation.
The most common types of ADR for civil cases are mediation, settlement conferences, neutral evaluation, and arbitration.