1. A request to DEFRA for the appointment of a BW board member with significant experience of fair trading issues. The primary focus of this individual's responsibilities on the BW board will be fair trading and the person will be a member of BW's expanded Fair Trading Group;

2. The joint development of a Code of Practice to provide guidance to BW's staff to enable them to carry out their duties in compliance with competition law;

3. BW acknowledges that the issues raised by the BMF over the past three years have highlighted the need for BW to comprehensively address the concerns of the inland waterways industry;

4. The BMF reiterates its view and understanding that BW can legitimately operate in the marina and moorings market.

The BMF are pleased that BW is committed to doing so on a fair trading basis.

5. The BMF's recommendation and encouragement to its members that outstanding and future complaints should be resolved through BW's Internal Complaints Procedure (and if necessary through the Waterways Ombudsman).

"The mediation process has allowed us to reach agreement on a way forward, " said BMF president Peter Methven. "It is now up to all of us to make the implementation work. The BMF will continue to approach this issue constructively and with a positive attitude."

"We want to address the concerns of the inland waterways industry, " commented BW chairman Tony Hales. "The mediation has helped us to do this. We are committed to working together to put the agreed measures into place for the benefit for all our customers on the inland waterways."

Both parties will be making the necessary arrangements to progress the agreement over the coming weeks.