How do you navigate a disagreement with your bank?

It can be a difficult balance to strike when you want to resolve the problem without creating too much friction. That's at the same time as also trying to secure the best outcome for you and your business. 

Parties that are in a dispute both invariably want to resolve their issues in the most cost effective and time efficient manner. Removing emotion and focusing on the commercial drivers is vital.

Mediation is a future focused problem solving process, which is tailored to meet the needs of both parties. Mediation can be used at any stage of the dispute and is for all levels of disagreements. It’s a process that has worked well in all of the economic cycles be it a recession or growth. 

Sectorally the businesses that we have worked with vary with some consistent trends in the licensed trade or in renewables. 

We have utilised banking mediation when settling unresolved disputes such as debt proceedings, securing judgements against Directors, appointment of receivers and possibly bankruptcy proceedings.

The process allows for a mediator to guide both parties down the path of a voluntary agreement on either part of or all aspects of the disputed issues.

In all of the cases we have resolved over the past five years there has always been a high level of disagreement at the start of the process. When working with restructuring or enforcement teams within banks their agenda is clear.

The role of the mediator is to bring the parties to acknowledge the strengths and weaknesses of their respective positions and to assist the parties in framing a solution which both sides can live with long term. 

All discussions are held on a without prejudice basis which allows both parties to discuss, within reason, their issues with an element of comfort knowing that the content will not be relied upon in a court of law.

This does not compromise either party’s position as by this stage they are both focused in the deliver of a resolution.

One of the most beneficial aspects of mediation is that it brings both legal and emotional closure for all parties. The negativity that resulted from the earlier conflict can, as much as it can be, set aside. 

If you feel you are getting nowhere whilst speaking to your bank then please make contact to discuss how we can help you quickly resolve the problem to allow you to return to growing your business.

Contact Managing Director Jamie Davidson for an insight into how

Banking Mediation could help end your frustration.

0131 564 0172

07919 863 034