Arbitration and Dispute Resolution Procedures Clause Samples

The "Arbitration and Dispute Resolution Procedures" clause establishes the process by which parties agree to resolve disputes arising from the contract outside of traditional court litigation, typically through arbitration or other alternative dispute resolution (ADR) methods. This clause usually outlines the steps parties must follow, such as attempting negotiation or mediation before proceeding to binding arbitration, and may specify the rules, location, and governing body for the arbitration process. Its core practical function is to provide a clear, efficient, and often less adversarial mechanism for resolving conflicts, thereby reducing the time, cost, and uncertainty associated with court proceedings.
Arbitration and Dispute Resolution Procedures. 58 25.1. Arbitration............................................................................................58 25.2. Alternative Arbitration................................................................................58 25.3. Arbitration Procedure..................................................................................58 ARTICLE 26
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Arbitration and Dispute Resolution Procedures. (a) If a Party notifies the other Party of any disputed items regarding either (i) the existence of any Title Defects asserted by Buyer, or the value of any adjustments to the Base Purchase Price therefor, (ii) the existence of any Environmental Defects asserted by Buyer, or the value of any adjustments to the Base Purchase Price therefor, (iii) the existence of any Casualty Defects asserted by Buyer, or the value of any adjustments to the Base Purchase Price therefor, or (iv) any other proposed adjustments to the Base Purchase Price to be made at Closing, or to be made after Closing in connection with the Final Settlement Statement, then Seller and Buyer shall promptly meet and attempt to resolve the dispute within fifteen (15) days following written notification of the dispute in accordance with the applicable terms of this Agreement. In the event the Parties fail to resolve their differences, then all such items remaining in dispute after the later of Closing or the end of such 15-day period shall be submitted by Seller and Buyer (i) in the case of Title Defects or Casualty Defects (or adjustments relating thereto), a “Title/Casualty Expert” mutually agreed to by the Parties, (ii) in the case of Environmental Defects (or adjustments relating thereto), an “Environmental Expert” mutually agreed to by the Parties, and (iii) in the case of any other proposed adjustments to the Base Purchase Price to be made at Closing, or to be made after Closing in connection with the Final Settlement Statement, then to one of the nationally recognized independent auditors or accounting firms (“Accounting Experts”) mutually agreed to by the Parties (in each case, the Title/Casualty Expert, the Environmental Expert and the Accounting Expert, as applicable, is herein referred to as the “Neutral Auditor”). All fees and expenses of the Neutral Auditor relating to the work, if any, to be performed thereby pursuant to this Section 20.3(a) shall be borne 50% by Seller and 50% by Buyer; provided, however, that in the event that the Neutral Auditor determines that the actual adjustment to the Base Purchase Price relative to a disputed item varies less than 10% of the original adjustment proposed for the applicable Title Defect, Casualty Defect, Environmental Defect or other adjustment to the Base Purchase Price and made the subject of the dispute, then the Party disputing the same shall be charged 100% of the costs of the Neutral Auditor. Except as provided in the preceding sentenc...
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Arbitration and Dispute Resolution Procedures 
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Related to Arbitration and Dispute Resolution Procedures

  • Governing Law and Dispute Resolution Procedure 25.1 This Agreement and any dispute or claim (including any non-contractual dispute or claim) arising out of or in connection with it or its subject matter, shall be governed by, and construed in accordance with, the laws of England and Wales. 25.2 Subject to the remainder of this clause 25, the parties irrevocably agree that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including any non-contractual dispute or claim) that arises out of or in connection with this Agreement or its subject matter. 25.3 In the event that any claim or dispute arises out of or in connection with this Agreement, the parties shall, following service of written notice by one party on the other, attempt to resolve amicably by way of good faith negotiations and discussions any such dispute or claim as soon as reasonably practicable (and in any event within 14 calendar days after such notice or by such later date as the parties may otherwise agree in writing). If the parties are unable to resolve the dispute or claim in accordance with this clause 25.3, either party may commence proceedings in accordance with clause 25.2. 25.4 Nothing in this clause 25 shall prevent either party from applying at any time to the court for injunctive relief on the grounds of infringement, or threatened infringement, of the other party's obligations of confidentiality contained in this Agreement or infringement, or threatened infringement, of the applicant's Intellectual Property Rights.

  • Complaints and Dispute Resolution 16.1 Where a dispute arises in connection with any aspect of this Agreement, the parties acting with good faith, will use all reasonable endeavours to bring any such issue to the attention of the other party in a timely fashion and in any event within 60 days of any such dispute coming to their attention. 16.2 Notification by one party to the other must be in writing and include the nature of the dispute and the desired resolution. 16.3 If a Supplier wishes to notify ACM of a dispute in connection with this Agreement, any such notification should be made by email to ▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇.▇▇▇.▇▇. 16.4 Within seven days of receipt of a notification in accordance with clause 16.2, a party will provide a response in writing including setting out steps it intends to take to resolve the dispute. 16.5 If, after attempting to resolve the dispute for a period of at least 60 days, the parties are not reconciled, they agree to then participate in a mediation to be conducted in accordance with the Code. 16.6 If, after undertaking mediation in accordance with the Code, the parties are still not reconciled, they may then submit to an arbitration to be conducted in accordance with the Code. 16.7 Unless otherwise agreed in writing, the parties shall each bear their own legal costs associated with any mediation and/or arbitration pursuant to this Agreement. 16.8 Nothing in this clause will prevent a party from seeking an injunction.

  • Consultation and Dispute Resolution 1. The Parties shall promptly consult, at the request of either of them, on any question arising out of the interpretation or application of this Agreement. Any disputes concerning the interpretation or application of this agreement shall be settled by friendly consultations between the Parties. 2. Paragraph 1 shall not prevent the Parties from having recourse to dispute settlement procedures under the Partnership and Cooperation Agreement establishing partnership between the European Communities and their Member States, and Ukraine.

  • Dispute Resolution Procedures (a) In the event a dispute arises about the interpretation, application, calculation of Loss, or calculation of payments or otherwise with respect to this Single Family Shared-Loss Agreement (“SF Shared-Loss Dispute Item”), then the Receiver and the Assuming Institution shall make every attempt in good faith to resolve such items within sixty (60) days following the receipt of a written description of the SF Shared-Loss Dispute Item, with notification of the possibility of taking the matter to arbitration (the date on which such 60-day period expires, or any extension of such period as the parties hereto may mutually agree to in writing, herein called the “Resolution Deadline Date”). If the Receiver and the Assuming Institution resolve all such items to their mutual satisfaction by the Resolution Deadline Date, then within thirty (30) days following such resolution, any payment due as a result of such resolution shall be made arising from the settlement of the SF Shared-Loss Dispute. (b) If the Receiver and the Assuming Institution fail to resolve any outstanding SF Shared-Loss Dispute Items by the Resolution Deadline Date, then either party may notify the other of its intent to submit the SF Shared-Loss Dispute Item to arbitration pursuant to the provisions of this Article VII. Failure of either party to submit pursuant to paragraph (c) hereof any unresolved SF Shared-Loss Dispute Item to arbitration within thirty (30) days following the Resolution Deadline Date (the date on which such thirty (30) day period expires is herein called the “Arbitration Deadline Date”) shall extinguish that party’s right to submit the non-submitted SF Shared-Loss Dispute Item to arbitration, and constitute a waiver of the submitting party’s right to dispute such non-submitted SF Shared-Loss Dispute Item (but not a waiver of any similar claim which may arise in the future). (c) If a SF Shared-Loss Dispute Item is submitted to arbitration, it shall be governed by the rules of the American Arbitration Association (the “AAA”), except as otherwise provided herein. Either party may submit a matter for arbitration by delivering a notice, prior to the Arbitration Deadline Date, to the other party in writing setting forth: (i) A brief description of each SF Shared-Loss Dispute Item submitted for arbitration; (ii) A statement of the moving party’s position with respect to each SF Shared-Loss Dispute Item submitted for arbitration; (iii) The value sought by the moving party, or other relief requested regarding each SF Shared-Loss Dispute Item submitted for arbitration, to the extent reasonably calculable; and (iv) The name and address of the arbiter selected by the moving party (the “Moving Arbiter”), who shall be a neutral, as determined by the AAA. Failure to adequately include any information above shall not be deemed to be a waiver of the parties right to arbitrate so long as after notification of such failure the moving party cures such failure as promptly as reasonably practicable. (d) The non-moving party shall, within thirty (30) days following receipt of a notice of arbitration pursuant to this Section 7.1, deliver a notice to the moving party setting forth: (i) The name and address of the arbiter selected by the non-moving party (the “Respondent Arbiter”), who shall be a neutral, as determined by the AAA; (ii) A statement of the position of the respondent with respect to each Dispute Item; and (iii) The ultimate resolution sought by the respondent or other relief, if any, the respondent deems is due the moving party with respect to each SF Shared-Loss Dispute Item. Failure to adequately include any information above shall not be deemed to be a waiver of the non-moving party’s right to defend such arbitration so long as after notification of such failure the non-moving party cures such failure as promptly as reasonably practicable (e) The Moving Arbiter and Respondent Arbiter shall select a third arbiter from a list furnished by the AAA. In accordance with the rules of the AAA, the three (3) arbiters shall constitute the arbitration panel for resolution of each SF Loss-Share Dispute Item. The concurrence of any two (2) arbiters shall be deemed to be the decision of the arbiters for all purposes hereunder. The arbitration shall proceed on such time schedule and in accordance with the Rules of Commercial Arbitration of the AAA then in effect, as modified by this Section 7.1. The arbitration proceedings shall take place at such location as the parties thereto may mutually agree, but if they cannot agree, then they will take place at the offices of the Corporation in Washington, DC, or Arlington, Virginia. (f) The Receiver and Assuming Institution shall facilitate the resolution of each outstanding SF Shared-Loss Dispute Item by making available in a prompt and timely manner to one another and to the arbiters for examination and copying, as appropriate, all documents, books, and records under their respective control and that would be discoverable under the Federal Rules of Civil Procedure.

  • Dispute Resolution and Arbitration The following procedures shall be used in the resolution of disputes: