A legal process that is considered relatively informal and does not require as much time as arbitration is Mediation.
This refers to a method of resolving conflicts between parties that would otherwise have gone to the courts to seek a settlement.
Mediation often involves an appointed mediator who is assumed not to be biased to help the parties to work through their differences and reach a settlement.
This mediator will not in any way act like a judge in the case. They will not decide how the matter should end or how the mediation process should go.
Their job is simply to get the parties to one room where they can talk and hash out their differences. The main advantage being that it is a cheaper method of conflict resolution, and it is less hostile.
In conclusion, mediation is relatively informal and does not require as much time or preparation as arbitration.
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