Mediation Final Agreement

In the absence of an agreement within a specified period of time (it is recommended that the parties provide either 60 or 90 days) or if a party refuses to participate in or continue to participate in the mediation, the dispute is submitted to a binding decision by arbitration under the WIPO Rules (or, if the parties agree, by an expedited arbitration procedure). The advantage of the combined procedure is the incentive it offers for a bona faith engagement by both parties to the mediation, as the consequence of a failure of an agreement on the financial and management commitment that should be made in the context of subsequent arbitration is more measurable. . . .