COMMERCIAL DISPUTE RESOLUTION THROUGH MEDIATION AND NEGOTIATION

The article analyzes the effectiveness of mediation and negotiation methods in resolving commercial disputes. These alternative methods to traditional court proceedings offer advantages such as reducing time and costs, as well as increasing the likelihood of reaching an agreement between the parties. In the mediation process, a neutral third party—the mediator—facilitates constructive dialogue between the disputing parties, while negotiation is a direct process of reaching an agreement between the parties. The article discusses the mechanisms of applying these methods in resolving commercial disputes, their legal foundations, and successful practical examples. The author also highlights the economic and social aspects of resolving disputes through alternative methods. Additionally, the article provides conclusions on the prospects for the development of mediation and negotiation institutions in Uzbekistan.