Trust has been identified as a key element of successful conflict resolution (including negotiation and mediation). This is not surprising insofar as trust is associated with enhanced cooperation, information sharing, and problem solving.
The need for trust arises from our interdependence with others. We often depend on other people to help us obtain, or at least not to frustrate, the outcomes we value (and they on us). As our interests with others are intertwined, we also must recognize that there is an element of risk involved insofar as we often encounter situations in which we cannot compel the cooperation we seek. Therefore, trust can be very valuable in social interactions.