Model settlement agreement
Where parties to a negotiation or ADR procedure come to a settlement, they should record its terms in a settlement agreement. This agreement is formal evidence that the parties have concluded terms of settlement. It avoids potential disputes as to the contents of any 'without prejudice' discussions and the terms of any agreement reached.
Mediators are not encouraged to participate in drafting the settlement agreement. This is even more true of the RICS Accredited Mediator who may not have a legal background, even though he or she may be experienced in the type of dispute being mediated.
Where parties have legal representation their lawyer should draft the agreement. If that is not the case they should aim to settle the agreement themselves, at least as heads of agreement, and have a lawyer provide additional details as necessary.
The template is available from the RICS Dispute Resolution Service.
- File type: PDF
- Size: 141.56 KB
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