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Delta Snippet Dispute Resolution in Contracts

Business Sales and M&A Specialists

Thursday, September 17th Juliet Peters, Owner and Legal master mind of Framework Legal was our guest on the Delta Business Bite webinar. 

This Snippet covers Dispute Resolution

Any dispute arising out of or relating to this Agreement or any transaction under the Transaction Documents that cannot be settled through informal negotiation must be submitted to non-binding mediation prior to any Party taking any legal action except as set forth in Section __ or specifically set forth in any Transaction Document. The Parties may submit a dispute to mediation by either Party making a written request (“Mediation Notice”). The mediator will be chosen by agreement of the Parties and mediation will be held in Maricopa County, Arizona within sixty (60) days after the Mediation Notice. If either Party refuses to participate in good-faith selection of the mediator, the Parties participating in good-faith will select the mediator. The Parties will split the costs of mediation equally. The mediator will deem the mediation “Complete” when the Parties agree that it has been completed or the mediator declares that an impasse exists. If mediation becomes Complete without resolution, the Parties may then proceed to file a claim, demand or action. The statute of limitations will be tolled during the mediation process.

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