Common use of Compulsory Mediation Clause in Contracts

Compulsory Mediation. If the shareholders do not agree within five business days of receipt of that notice as to: (i) The dispute resolution technique and procedures to be adopted; (ii) The timetable for all steps in those procedures; and (iii) The selection and compensation of the independent person required for such technique; the shareholders must mediate the dispute in accordance with the mediation rules of the Australian Disputes Centre, with the mediator to be selected and the mediation organised by them or a similar organisation agreed to by all parties.

Compulsory Mediation. If the shareholders do not agree within five business days of receipt of that notice as to: (i) The dispute resolution technique and procedures to be adopted; (ii) The timetable for all steps in those procedures; and (iii) The selection and compensation of the independent person required for or such technique; the shareholders must mediate the dispute in accordance with the mediation rules of the Australian Disputes Centre, with the mediator to be selected and the mediation organised by them or a similar organisation agreed to by all parties.