What does the CEDR mediation audit say?
Published by Peter Causton
CEDR published the results of its mediation audit, the 10th last month. This follows a biennial survey of lawyers and mediators. What are the key takeaways?
Costs saving
CEDR say that since since since 1990 the profession has contributed savings of £50 billion.
“By achieving earlier resolution of cases that would otherwise have proceeded through litigation, the commercial mediation profession this year will save business around £5.9 billion in wasted management time, damaged relationships, lost productivity and legal fees.”
What do mediators charge?
CEDR say that the average hourly rate for cases valued at under £10,000 is £150, £175 for cases between £10,000-£25,000 and £250 for cases over £25,000. The fee for a 7 hour mediation is £1225 for a case up to £25,0000.
On this basis we appear to be cheaper than average. CEDR say that the arithmetic mean target was £1,826 per day.