MEDIATION AGREEMENT
ARBITRATION/MEDIATION AGREEMENT Date: _________________________________
2016 Printing
WHEREAS, the undersigned parties have entered into a certain Purchase and Sale Agreement with an Acceptance Date of
LY
_________________________________________ for the purchase and sale of real property located at: ______________________________________________________, ________________________________, Georgia _______________. Now therefore, for and in consideration of the sum of Ten Dollars ($10) and other valuable considerations paid by each to the other, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree to settle and resolve the below described dispute as set out by the Commercial Arbitration Rules of the American Arbitration Association in accordance with the procedure selected below:
O N
Purchaser and Seller must initial the same procedure (the boxes not initialed are not a part of this Agreement):
Binding Arbitration is the submission of a dispute to one or more impartial persons for a final and binding decision.
Buyer’s Initials
Seller’s Initials
Seller’s Initials
Mediation and settlement involves an attempt by the parties to resolve their dispute with the aid of a neutral third party. The mediator’s role is advisory. The mediator may offer third party suggestions, but resolution of the dispute rests with the parties themselves.
N IN G
Buyer’s Initials
Mediation-Arbitration combines the voluntary techniques of persuasion and discussion, as in mediation, with an arbitrator’s authority to issue a final and binding decision, when necessary. Buyer’s Initials
Seller’s Initials
TR AI
Nature of Dispute and/or Claim:
The Parties hereby name ______________________________________________ as arbitrator or mediator, (or both). In the event that the parties cannot agree upon one arbitrator or mediator, each party shall name one arbitrator and the two arbitrators shall name a third arbitrator or mediator. The parties shall share equally the cost of arbitration or mediation, (or both).
R
The parties hereto agree that they will abide by and perform any award rendered hereunder and that a judgment may be entered on the award. It is further agreed by the parties hereto that all terms and conditions of the Purchase and Sale Agreement shall remain in full force and in effect, other than those amended by any award hereunder.
FO
__________________________________________________ Buyer’s Signature
_____________________________________________________ Seller’s Signature
__________________________________________________ Print or Type Name
_____________________________________________________ Print or Type Name
__________________________________________________ Buyer’s Signature
_____________________________________________________ Seller’s Signature
__________________________________________________ Print or Type Name
_____________________________________________________ Print or Type Name
THIS FORM IS COPYRIGHTED AND MAY ONLY BE USED IN REAL ESTATE TRANSACTIONS IN WHICH _____________________________ IS INVOLVED AS A REAL ESTATE LICENSEE. UNAUTHORIZED USE OF THE FORM MAY RESULT IN LEGAL SANCTIONS BEING BROUGHT AGAINST THE USER AND SHOULD BE REPORTED TO THE GEORGIA ASSOCIATION OF REALTORS® AT (770) 451-1831. Copyright© 2016 by Georgia Association of REALTORS®, Inc.
F121, Arbitration/Mediation Agreement, 01/01/16
2016 Printing
WHEREAS, the undersigned parties have entered into a certain Purchase and Sale Agreement with an Acceptance Date of
LY
_________________________________________ for the purchase and sale of real property located at: ______________________________________________________, ________________________________, Georgia _______________. Now therefore, for and in consideration of the sum of Ten Dollars ($10) and other valuable considerations paid by each to the other, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree to settle and resolve the below described dispute as set out by the Commercial Arbitration Rules of the American Arbitration Association in accordance with the procedure selected below:
O N
Purchaser and Seller must initial the same procedure (the boxes not initialed are not a part of this Agreement):
Binding Arbitration is the submission of a dispute to one or more impartial persons for a final and binding decision.
Buyer’s Initials
Seller’s Initials
Seller’s Initials
Mediation and settlement involves an attempt by the parties to resolve their dispute with the aid of a neutral third party. The mediator’s role is advisory. The mediator may offer third party suggestions, but resolution of the dispute rests with the parties themselves.
N IN G
Buyer’s Initials
Mediation-Arbitration combines the voluntary techniques of persuasion and discussion, as in mediation, with an arbitrator’s authority to issue a final and binding decision, when necessary. Buyer’s Initials
Seller’s Initials
TR AI
Nature of Dispute and/or Claim:
The Parties hereby name ______________________________________________ as arbitrator or mediator, (or both). In the event that the parties cannot agree upon one arbitrator or mediator, each party shall name one arbitrator and the two arbitrators shall name a third arbitrator or mediator. The parties shall share equally the cost of arbitration or mediation, (or both).
R
The parties hereto agree that they will abide by and perform any award rendered hereunder and that a judgment may be entered on the award. It is further agreed by the parties hereto that all terms and conditions of the Purchase and Sale Agreement shall remain in full force and in effect, other than those amended by any award hereunder.
FO
__________________________________________________ Buyer’s Signature
_____________________________________________________ Seller’s Signature
__________________________________________________ Print or Type Name
_____________________________________________________ Print or Type Name
__________________________________________________ Buyer’s Signature
_____________________________________________________ Seller’s Signature
__________________________________________________ Print or Type Name
_____________________________________________________ Print or Type Name
THIS FORM IS COPYRIGHTED AND MAY ONLY BE USED IN REAL ESTATE TRANSACTIONS IN WHICH _____________________________ IS INVOLVED AS A REAL ESTATE LICENSEE. UNAUTHORIZED USE OF THE FORM MAY RESULT IN LEGAL SANCTIONS BEING BROUGHT AGAINST THE USER AND SHOULD BE REPORTED TO THE GEORGIA ASSOCIATION OF REALTORS® AT (770) 451-1831. Copyright© 2016 by Georgia Association of REALTORS®, Inc.
F121, Arbitration/Mediation Agreement, 01/01/16
