The correct answer is Option (1) → Speedier, Informal and cheaper
Explanation:
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Speedier: Alternative Dispute Resolution (ADR) methods, such as mediation and arbitration, typically resolve disputes more quickly than conventional judicial procedures, which can be lengthy due to court schedules and procedural requirements.
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Informal: ADR processes are usually less formal than court proceedings. They often involve more relaxed settings and procedures, which can make participants feel more comfortable and promote open communication.
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Cheaper: ADR is generally less expensive than going through the courts. The costs associated with legal representation, court fees, and the extended timeline of litigation can add up, whereas ADR can reduce these expenses significantly.
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