What is Mediation?
There are times when buyers and sellers may need to mediate a dispute.
For example with reference to Paragraph 27 of the PA Standard Agreement of Sale.
Mediation is a non-adversarial process that brings disputing parties together with a neutral, unbiased third party (mediator) who assists the parties in reaching a mutually agreeable settlement of the dispute. The mediator does not render decisions or impose sanctions. Settlement terms reached and agreed to by the parties during the mediation become binding when parties sign a written settlement agreement.
Please review and use the documents below, if you would like to file for Mediation:
- Faster than litigation.
- Less expensive than litigation.
- Discourages litigation of frivolous claims.
- Parties do not forfeit their legal rights to arbitrate or litigate the dispute if mediation is unsuccessful.
- Potential for lowering the number of claims that must be settled or litigated by the insurance co., there by lowering insurance costs.
- Mediation in general has an extremely high success rate.