Amendment to contract #
To settle any dispute in an amicable and cost-effective manner.
__________________________ and ______________________ agree to the following:
In the event of any dispute arising related to this agreement that the parties can settle between themselves, the parties agree to mediate and arbitrate. Mediation and arbitration will be held in accordance with the rules of Resolute Mediation & Arbitration Inc. (RM&A Inc).
“Mediation” is a process in which parties attempt to resolve disputes by submitting it to an impartial mediator who will facilitate the resolution of the dispute but who is not empowered to impose a settlement on the parties. The parties will equally divide the cost of the mediation. Failure to attend after being notified of the mediation conference without written notice to the mediator will result in a default. In the event that there is no resolution through mediation the parties agree to arbitrate.
“Arbitration” is a process in which the parties resolve a dispute by a hearing before a neutral party person or panel who decide the matter and whose decision is binding on the parties. Each party to any arbitration will pay its own fees, costs and expenses, including attorney’s fees, and will equally share the arbitrator’s fees and administrative fees of arbitration. The Arbitrator may conduct the hearing in the absence of either party after being fully notified of such hearings. The judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
Company: ________________ Company: _________________
Rep: ____________________ Rep: _____________________
Signature: ________________ Signature: _________________