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ADR describes any procedure or device other than the traditional judicial process used for resolving disputes. ADR is normally a less expensive and quicker process than formal litigation. In some cases, ADR also provides the advantage of privacy. ADR procedures can help the company maintain a cordial relationship with the opposing party, dispose of issues relatively quickly, and allow for flexible and alternative solutions to business conflicts.
There are three basic types of ADR: negotiation, mediation, and arbitration.
Describe each type of ADR and answer the following questions:
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