When the Mediation is complete, the Mediator will produce two documents.
1. Memorandum of Understanding
This document is a summary of everything that has been proposed during the Mediation Process. It is signed by the Mediator and handed to both participants. The participants can give the document to their Solicitor and s/he can incorporate the information into a Consent Order for presentation to the Court. The information in this document is “Legally Privileged” and belongs jointly to the two parties. It cannot be called upon for use in Court without their consent or in exceptional circumstances.
2. Open Summary of Financial Information
The Open Summary of Information or The Open Financial Summary (OFS) as it is often called is a full and frank disclosure of information regarding the finances of both parties which is used by a Solicitor as part of the Statement of Financial Information Form which they present to the Court as part of the Consent Order. The Statement of Financial Information is a Legal Document which requires disclosure of all Financial Interests of both parties. Completion of an OFS speeds the process and allows parties to make informed decisions about what is realistic for them both in terms of their financial futures.