Mediation Settlement Agreement

THIS MEDIATION SETTLEMENT AGREEMENT is made on the day of 04 May 2024.

BETWEEN

(1)  PARTY_1_NAME of PARTY_1_ADDRESS_SINGLE_LINE ("Party A") and

(2)  PARTY_2_NAME of PARTY_2_ADDRESS_SINGLE_LINE ("Party B").

Background

1. The Parties agreed to enter into a mediation on with the intent of settling their dispute pursuant to the Mediation Agreement dated MEDIATION_AGREEMENT_DATE, following the rules under MEDIATION.
   
   
2. The Parties have reached an agreement in the mediation on the terms necessary to settle their dispute. The terms agreed between the Parties are set out below accordingly in this Settlement Agreement. 

THE PARTIES AGREE AS FOLLOWS:

1. In consideration of the premises that Party B shall pay the sum of CURRENCY SETTLEMENT_AMOUNT and the performance by Party A on the terms and conditions provided hereinbelow, the parties shall settle the Claim in the manner stated below. 

2. Party B shall deliver a lawyers’ cheque or cashiers’ order in the amount of CURRENCY SETTLEMENT_AMOUNT to Party A by SETTLEMENT_DATE as full and final settlement to the Claim. 

3. Party A hereby agrees and undertakes the following performance for Party B within 3 working days from the date of clearance of the said lawyers’ cheque or cashiers’ order :AGREED_PERFORMANCE.

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