A Financial Dispute Resolution Appointment (FDR) provides an opportunity for you to negotiate within the framework of Court proceedings and follows the exchange of financial disclosure. The FDR is designed to assist the parties narrow the issues between them and, if possible, reach an agreement.
The FDR is conducted by a Judge who, having reviewed the facts of the case, will share his / her view as to likely outcome. That ‘indication’ should inform the negotiations and define the parameters for settlement.
A Private Financial Dispute Resolution Appointment (PFDR) operates in the same way, with the aim of achieving settlement. In comparison to a Court FDR however, you have more control over the process with a PFDR. Importantly, you (via us) can appoint the tribunal (often referred to as the Judge) – normally a senior barrister or QC. All concerned will also elect a mutually convenient date and location for the PFDR.
There are no time constraints with a PFDR, as you and your legal representatives are committed for the day, with a focus on constructive negotiation and settlement.
In advance of the PFDR, each party will make and receive an offer for settlement. These offers are also shared with the Judge so that s/he has time to carefully review your respective positions and provide an informed and detailed indication on the day.
Whilst opting to go private creates an additional layer of cost (usually the fee of the jointly appointed Judge), that cost is outweighed by the many advantages of the PFDR including:
- a sense of ownership in the process;
- a commitment on both sides to negotiate, more often than not resulting in settlement;
- the freedom to appoint the Judge;
- the knowledge that the Judge will be prepared for the PFDR with a detailed understanding of the intricacies of the case;
- a more relaxed environment than a busy Court building, as the PFDR is usually hosted in the Judge’s Chambers.