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.
Colorado 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
What is mediation? Mediation is an informal, confidential, flexible, and non-binding process in which an impartial person called a ?mediator? helps the parties to understand the interests of everyone involved, and their practical and legal choices.
In private judging, parties authorize an expert in their legal dispute to resolve the issue. The parties hire a private judge, often a former judge or an attorney. The parties take turns presenting their case to the judge, after which the judge issues a legally binding decision. The court appoints a private judge.
As a general rule, mediation communications are privileged and not subject to discovery or admissible in evidence in a proceeding unless waived by all the parties to a mediation, as well as the mediator and the third party participants.
The main advantages of solving a problem with ADR are: it's usually cheaper, more flexible, faster and less stressful than going to court. you might receive compensation. it's confidential.
As a point of categorisation, the expression "dispute resolution clause" refers to the contractual provisions by which parties specify how their disputes are to be resolved: this includes arbitration, mediation and reference to litigation through the courts (commonly referred to as a "jurisdiction clause").
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.
Confidentiality is essential because of the needs for candor, fairness to the disputants, and clear neutrality of the mediator. In addition, privacy is a reason why many people choose mediation.
