103.3 Settlement agreement

103.3 Settlement agreement

In the commercial sphere, any agreement reached should be recorded in a written document1 and signed by all the parties in order to make it enforceable. Ideally, the document should be drafted in as much detail as possible before the parties leave the mediation; if this is not feasible, a formal ‘heads of agreement’ should be produced at the mediation, with a more detailed document to follow.

The final document should be detailed and precise in order to avoid future disagreement as to its implementation. It should be clear exactly when and in what circumstances the