Make sure you have the knowledge

In a recent dispute between commercial trading companies, the defendant was able to produce evidence of a market tender at the time of the disputed events to adjust significantly the claimant’s expectations. The claimed losses were brought into proper perspective and settlement was reached.

In preparing for negotiation (whether or not in mediation), especially where loss of profit or business interruption is the issue, it is wise to collate in advance historical management or market information such as operating margins, share prices, commodity prices or wholesale or retail selling prices, or any information that could be relevant in making or countering a settlement proposal.