Delaware Code Title 6 Sec. 7715 – Conclusion of ADR
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Any settlement of the dispute submitted to ADR shall be reduced to writing as soon as possible after the settlement is reached, with such writing to be prepared by the ADR Specialist (unless the parties otherwise agree as part of their settlement that they will prepare the writing) and shall be signed by the parties to be valid and binding upon them. If no settlement is reached at the close of business on the day the ADR is commenced or after further mediation at the parties request until an impasse is declared, the ADR Specialist shall declare the ADR has concluded by advising the parties in writing.
Terms Used In Delaware Code Title 6 Sec. 7715
- ADR: means the alternative dispute resolution method provided for by this chapter unless the parties to a dispute adopt by written agreement some other method of ADR in which event "ADR" shall refer to the method they adopt. See Delaware Code Title 6 Sec. 7702
- ADR Specialist: means an individual who has the qualifications provided for in § 7708 of this title to conduct an ADR proceeding. See Delaware Code Title 6 Sec. 7702
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.