Commercial Mediation
Commercial mediation is a flexible, voluntary and confidential form of alternative dispute resolution in which a neutral third party assists parties to work towards a negotiated settlement of their dispute. The parties retain control of the decision whether or not to settle and on what terms. Unlike a judge or arbitrator, the mediator will not decide the case on its merits, but will work to facilitate agreement between the parties. It is the parties’ opinions, not the mediators, which matter.
We facilitate the process with the aim to reach into an agreement between the bank and the viable creditor.
We do not impose solutions.
By law we are dealing with cases:
Physical and legal entities with Credit up to Euro 350,000 and house under mortgage that it is used as the primary residence of the owner.
For Limited Liability Companies which their turnover does not exceed Euro 250,000 per year or other legal entities with net assets not exceeding Euro 250,000.
We take action after the complaint is properly made in the office of the financial ombudsman in Cyprus.