Mediation and Arbitration
Mediation is a voluntary mechanism focused on the settlement of conflicts, by which two or more individuals or legal entities negotiate a solution of their differences in good faith through their legal representatives, with the assistance of a neutral and qualified third party, called mediator.
Arbitration is defined as a method for solving conflicts through which individuals or legal entities, previously agreed upon, can submit to the decision of one or several arbitrators, the disputes that may arise, in matters that can be freely decided by the parties in accordance with law.
The Federal Commercial Notary Public Law and its Regulations empower the Commercial Notary Public as a Mediator and Arbitrator in the solution of controversies of commercial nature. Therefore, the Commercial Notary Public, in his supportive nature to Commerce and Commercial entities, can act as an Arbitrator or Mediator in the solution of controversies that may arise due to agreements or contracts between commercial entities.
Usually the parties previously undertake to submit any controversy that may arise due to an agreement through an Arbitration Clause, to one or several Arbitrators, designated by both parties, submitting themselves to the proceedings agreed upon by both parties. The arbitration concludes with the execution of an Arbitral Award, which acts as a judgment that is binding for both parties and is a legally enforceable writ of execution. Therefore, the role of the Commercial Notary Public in the resolution of commercial conflicts is very important because it considerably reduces the waiting time compared to the conventional processes on Courts.
The Commercial Notary Public Office No. 31 of the State of Nuevo Leon offers these kinds of services so you can let the experts find the best solution for these sorts of controversies.