What is a mediation agreement?
A mediation agreement is the contract in which the parties will resolve in a total or partially the controversy to which they are subjected, this form will avoid having to reach a much more long and expensive litigation or ending that had already begun.
As we have already said this is an agreement, and therefore will be governed by contract law, particularly by the legal regime of the transaction contract. Although there are also exceptions regulated by the proper Law of Mediation.
If we look at the legal system must take into account that a number of requirements that must be met because if it is not the agreement would not be valid:
- First the mediation agreement must be documented, i.e. writing. As much as has been concluded orally if there is a document which bears the mediation agreement will have no validity.
- Secondly must include both the Final Act as a contractual document for this. In this way it will provide enforceable through the granting of a deed.
After fulfilling the requirements the mediation agreement will have a number of effects which are as follows:
- Each party has the obligation to observe what has been agreed and should refrain from going to the litigation.
- Effectively resolve all issues that have been the subject of mediation, so that if a party to resurrect issues already covered in the agreement, simply to assert the effectiveness.
- Possibility of having executive effect if the parties want to give the character of executive title.