Phase 5: Solution
If the parties reach a solution that serves the common interest, this solution can be recorded in a legally binding settlement agreement, covenant or list of agreements. The mediator ensures that the agreements made are realistic and points out that possibility for parties to obtain financial or legal advice, if desired, before signing the agreement. If the parties wish to attach an enforceable title to the agreement, this can be done by notarial deed or by ratification by the court.
If no agreement is reached by the parties, the mediator will discuss possible alternatives, such as other forms of alternative dispute resolution or legal proceedings. The mediation formally ends with a termination notice from the mediator to the parties.