Arbitration
I have arbitrated hundreds of cases in Illinois State Courts and for FINRA, usually as panel chair.
Arbitration involves a judgmental approach as contrasted to mediation, in which the mediator does not pass judgment.
When a case is arbitrated the arbitrator must be able to control the process, as would the judge in a courtroom. The major difference is that the rules of evidence are relaxed so that the standard of admissibility becomes reliability, not strict adherence to a set of rules, although the rules of evidence remain as guidelines.
My arbitrations have included cases involving small amounts up to many millions of dollars. Parties have often expressed satisfaction with the conduct of my arbitrations.
References as to arbitrations supplied upon request.