You need to know – What is mediation?

YouNeedToKnowWeb500Mediation is a form of alternative dispute resolution where a third party (the mediator) assists the parties to negotiate a settlement

The mediator has no power to impose a decision on the parties, but acts as a facilitator

Mediation is one of the procedures authorized to settle an escrow dispute

When mediation is used to settle an escrow dispute the mediation process must be completed within 90 days of the last demand for funds in escrow

If the mediation is not completed within 90 days the broker must employ one of the other authorized escrow dispute settlement procedures

All parties must agree to mediation