DISPUTE RESOLUTION/BINDING MEDIATION Clause Samples

DISPUTE RESOLUTION/BINDING MEDIATION. If any Claim arises relating to the Agreement that cannot be resolved through informal negotiation, the parties agree to proceed in good faith to submit the matter to a mediator with arbitrator powers (“Binding Mediation”). Either party may request such Binding Mediation by a written Notice to the other. Within ten (10) business days following Notice of an intent to mediate by either party, the parties will jointly select, appoint and arrange to meet, either in person, telephonically or electronically, an impartial person skilled in the area of dispute and located in the Denver, Colorado metro area who can resolve the dispute confidentially. If the parties cannot jointly choose a mediator, each side shall choose an unaffiliated, neutral mediator (within fifteen (15) days of the Notice of intent to mediate), which mediators shall jointly choose a third unaffiliated, neutral mediator (within twenty (20) days of the Notice of intent to mediate) and which third mediator shall solely determine the controversy. The mediator’s decision shall be determined pursuant to Colorado law, except where U.S. Federal law applies, without regard to any conflict of laws, and shall rely upon the Colorado Rules of Civil Procedure. Should one party fail to select a mediator within the timeframe above, fail to schedule a mediation session within sixty (60) days of the Notice of intent to mediate or fail to appear at a scheduled mediation session, the mediator shall rule in favor of the other party. The parties will share equally in the cost of such mediation. At each party’s own cost and expense, it may also engage legal counsel to assist in presenting its arguments to the mediator. Mediation shall terminate when 3 hours of mediation has been completed unless modified by mutual agreement. The mediator shall issue a final binding decision within thirty (30) days of the final mediation session, which decision shall be fully enforceable and registrable as a judgment in the Jurisdiction without further action. Neither party will take any action, or fail to act, to the detriment of the other during the term of the Agreement or during any dispute between the parties.