Common use of MANDATORY MEDIATION AND ARBITRATION Clause in Contracts

MANDATORY MEDIATION AND ARBITRATION. If a dispute arises out of or relates to this Agreement, and if the dispute cannot be settled through negotiation, the Parties agree first to try in good faith to settle the dispute first by informal negotiation, and then by mediation administered by the American Arbitration Association under its Commercial Mediation Procedures before resorting to arbitration. Any controversy or claim arising out of or relating to this Agreement that is not resolved in mediation shall be settled by individual arbitration administered by the American Arbitration Association under its Commercial Arbitration Rules and Mediation Procedures and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. The Parties waive the right to pursue any class action litigation or litigation in any other venue or forum.