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AGREEMENT FOR MEDIATION

ADDENDUM TO EARNEST MONEY CONTRACT CONCERNING PROPERTY AT _______________________________________________

(Street Address and City)

The parties to the contract and any broker who signs this addendum agree to negotiate in good faith in an effort to resolve any dispute related to the contract that may arise between the parties or between a party and a broker

If the dispute cannot be resolved by negotiation, the dispute shall be submitted to mediation before resort to litigation.

• If the need for mediation arises, a mutually acceptable mediator shall be chosen by the parties to the dispute who shall share the cost of mediation services equally.

• If the need for mediation arises, mediation services shall be provided by _______ and the cost of mediation services shall be shared equally by the parties to the dispute.
  

NOTE: Mediation is a voluntary dispute resolution process in which the parties to the dispute meet with an impartial person, called a mediator, who would help to resolve the dispute informally and confidentially Mediators facilitate the resolution of disputes but cannot impose binding decisions. The parties to the dispute must agree before any settlement is binding.

Signature Block

(buyer, seller, agent, broker)

The form of this addendum has been approved by the Texas Real Estate Commission for use with similarly approved or promulgated contract forms. Such approval relates to this form only. No representation is made as to the legal validity or adequacy of any provision in any specific situations. It is not suitable for complex transactions.

ftp://MEDIAT~1.wpd (to download this form in WordPerfect document format)

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