This form is a Private Dispute Resolution Clause usable to compel negotiation and mediation prior to arbitration or litigation in contracts where licensing, patents, or commercial trade secrets are a factor.
Kentucky Private Dispute Resolution Clause
State:
Multi-State
Control #:
US-TS10042B
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Private Dispute Resolution Clause?
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FAQ
The new rules, which took effect on Feb. 1, 2022, give courts the authority to refer all or part of a civil case to mediation and to appoint a mediator ? a neutral third party who helps settle some or all of the contested issues.
The primary objectives of mediation are to enable and empower the parties to negotiate and resolve the dispute promptly, cost effectively, and confidentially rather than have a decision imposed upon them by a judge or arbitrator.
Mediation can be helpful in resolving legal disputes. It is not legally binding unless the parties enter a settlement agreement, also sometimes referred to as a mediation agreement. Mediation can also be legally binding if it is court-ordered.
Generally, mediation clauses are enforceable. However, mediation is essentially a consensual process, and a settlement is unlikely if one party is forced to participate. The mediation clause recognizes that both parties have considered, and are open to, the mediation process.
At its simplest, an ADR clause allows the contracting parties to agree that if a dispute arises, they will use an alternative form of dispute resolution (such as mediation) as a step prior to, or at least alongside, court action or binding arbitration.
Sample Mediation Clause The parties agree that any dispute or controversy, arising out of or in connection with this Agreement or any alleged breach thereof, shall be subject to mediation if all parties agree thereto.
Mediation does not impose a solution and it is not binding until the parties reach and sign a settlement agreement. If a settlement cannot be reached, the parties are welcome to continue with the arbitration process. Unlike an arbitrator, a mediator has no power to decide a dispute.
The negotiations that took place in mediation stay confidential and cannot be used in court. If the Case Settles, there is usually a private written agreement. The agreement can include provisions for what happens if someone violates the agreement.
