Mediation Agreements
While arbitration agreements tend to receive more attention, mediation agreements should not be overlooked. Accepting the premise that pre-arbitration/litigation mediation is a good idea, the parties need to have a level playing field so that all involved understand what they are agreeing to by way of mediation.
As noted by attorney Jorge Salva, a good mediation agreement should contain:
Dispute Summary: A summary of the nature of the matter, including the facts and legal issues in dispute.
Payment Provision: A description of the payments that must be made by one party to the other, as well as the schedule for such payments.
Termination/Modification Provision: The circumstances under which the agreement may be terminated or modified by either party and the process for making any changes.
Confidentiality Provision: A clause prohibiting the parties from disclosing the contents of the agreement to third parties.
Governing Law: A provision setting forth the jurisdiction that will govern the interpretation and enforcement of the agreement.
With these issues agreed to beforehand, the parties should have a leg up on resolving their dispute.
