While some mediation sessions can be long and exhausting, it is important to remember that if the parties are able to reach an agreement during a session, it is preferable to have them sign a written settlement agreement before the mediation concludes.
If the parties do not execute a final agreement or leave the mediation with an understanding that matters are not settled until a final document is signed, they run the risk of losing the agreement they were so close to obtaining. Indeed, as time goes by, one of the parties may have second thoughts about certain elements of the deal, or may be influenced by someone (colleague, spouse, friend, business partner, legal or financial adviser…) to reconsider the decisions made during the mediation session. One of the attorneys may also realize that, when drafting the final settlement agreement, he omitted an element important to his client. Anything can potentially happen… and at the end, nothing is ever signed.
