Farm Debt Mediation
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Consultation is open until 5 May 2017 on an issues paper for the review of the Farm Debt Mediation Act 1994 (NSW). Click here for more information.
'Farm Debt Mediation' is a structured negotiation process in which the mediator, as a neutral and independent person, assists the farmer and the creditor in attempting to reach agreement on the present arrangements and future conduct of financial relations between them. Mediation is a simple, voluntary and confidential process that is quick, accessible and affordable.
The object of mediation under the Farm Debt Mediation Act 1994 is to provide for the efficient and equitable resolution of farm debt disputes. Mediation is required before a creditor can take possession of property or other enforcement action under a farm mortgage.
It is recommended that farmers employ a professional adviser. The adviser can be your local Rural Financial Counsellor, your Solicitor, your Accountant or some other appropriately qualified person. The role of the parties' adviser in mediation will be to, fully prepare their clients for, and then to assist and advise, rather than represent them, during the process and on any settlement options raised, and perhaps, assist the mediator with drafting the terms of any settlement reached. It is essential that any adviser employed have a clear understanding of the mediation process and sound financial skills.
- What is mediation? 218.0 KB
- Information brochure 47.8 KB
- Farm Debt Mediation Act 1994 (www.legislation.nsw.gov.au)
- Mediation kit
- Farmer-initiated mediation
- Creditor-initiated mediation
- Research and reports
- Electronic Lodgement of Applications
- Farm Debt Mediation Act 1994 (NSW) Review - Invitation for comment