For those not familiar with mediation, we have attempted to summarise it in 5 points:

Voluntary attempt to resolve dispute: the participants agree to mediate, and it is up to them whether (and on what terms) they reach a settlement of the dispute;
Independent trained mediator: the process (usually at a neutral venue on a chosen day) is facilitated by an impartial skilled mediator, enabling discussion and settlement;
Confidential and without prejudice process: the parties can discuss matters properly, without worrying that it’s going to be repeated outside of the mediation or that it may affect their legal position;
Flexibility as to how the day runs: the participants will have separate rooms, where they can discuss matters with the mediator privately, and there is also scope for joint meetings. The format is flexible and decided by the parties, guided by the mediator;
All options open: the parties can discuss and agree on what works best for them in practical terms, and are not confined to outcomes that a Judge can grant in court.