35Mediation agreements

35 Mediation agreements

(1)  Subject to subsection (2) , if the parties to a mediation are satisfied that a draft mediation agreement sets out the main points agreed on by the parties during, or within 24 hours after the end of, the mediation, the parties may enter into a mediation agreement by signing the draft mediation agreement.

(2)  A mediation agreement entered into under subsection (1) must include a cooling-off period statement.

(3)  A mediation agreement is binding on the parties to the agreement.

(4)  A mediation agreement may be varied or replaced by a further mediation agreement in writing between the parties to the agreement.

(5)  A minor defect or minor technical irregularity in a mediation agreement does not invalidate the agreement.