A franchise agreement is a legally bound agreement outlining the franchisor’s terms and conditions for the franchise. Additionally outlined are the obligations of the franchisor and the obligations of the franchisee.
Mediators are facilitators, who work with both parties to create a solution to the problems between the parties. However, the mediator does not make the decisions for the parties, the parties do. When a dispute arises, it is beneficial to have a mediator at your disposal. They will work to achieve with the parties, a mutually acceptable resolution to the dispute.
Any dispute or controversy to arise in connection with the agreement, between the parties, are to be decided by an arbitrator (agreed upon by the parties). It is a binding legal process where parties have submitted, by written agreement, that a dispute between them be resolved by a neutral, third party (the arbitrator).
Mediation and Arbitration Clause Combined
In default of resolution at the mediation, the dispute is to be determined by an arbitrator agreed on by the parties. If you’re interested in purchasing a franchise, get the help you deserve. Contact Law Works in Guelph, they can help you solve disputes easily with a team of professional franchise lawyers.