There is no dress code so you do not need to be in a suit or anything fancy. Keep in mind that you may be there for a while so something relatively comfortable and bring a sweater or something just in case it is cold. Do not be too casual to the point of being sloppy but there is no need to stress over this. Jeans and a sweater top should be fine.
Mr. Procter's answer is well put: "Dress to be respected." While your attire should not affect the mediation, keep in mind that it may affect how you perceive yourself.
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There's no such thing as being overdressed for court or a mediation....well, perhaps a tuxedo and top hat would be over the top. But seriously, as others have said perception is reality. There are probably psychological studies out there that have found that a person in a suit is thought to be more believable than a person in jeans and a t-shirt in a courtroom or mediation setting. Additionally, the person who is dressed appropriately likely feels more confident and comes across better as well. Basically, dress nicely, and all parties will know you respect the process and take the matter seriously. Good luck!
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