In the event of any dispute, controversy, or claim arising out of or relating to this contract, or the breach, termination, or invalidity thereof, the parties shall first seek to resolve the matter through mediation administered by the International Trade Council (ITC) in accordance with its mediation rules in effect at the time the request for mediation is made.
The mediator shall be appointed by the ITC and shall be a neutral, impartial, and independent third party with expertise in the subject matter of the dispute. The place of mediation shall be [city and country, as agreed by the parties]. The language to be used in the mediation proceedings shall be [language, as agreed by the parties].
The parties agree to participate in the mediation in good faith and to share equally the costs of the mediation, including the fees of the mediator and the ITC's administrative fees. The parties shall each bear their own costs and expenses related to the mediation, including attorneys' fees, unless otherwise agreed.
The parties further agree to maintain the confidentiality of the mediation proceedings, any settlement proposals or offers, and any documents or materials submitted during the mediation, except as may be required by law or for purposes of enforcement of a settlement agreement.
If the dispute, controversy, or claim is not resolved through mediation within [a specified number of days, e.g., 60 days] from the date of the request for mediation, or such other period as the parties may agree, either party may submit the dispute to arbitration or litigation, as agreed by the parties or as provided in a separate dispute resolution clause in this contract.
By incorporating this mediation clause into their contract, the parties acknowledge their commitment to attempting to resolve their disputes amicably through mediation before pursuing other dispute resolution methods, such as arbitration or litigation.
Note: This example mediation clause is provided for informational purposes only and should not be considered legal advice. It is essential to consult with legal counsel when drafting a mediation clause to ensure that it is appropriate and enforceable under the relevant laws and jurisdictions applicable to the specific contract.