Common use of Claims and Responses Clause in Contracts

Claims and Responses. The claims and responses shall be filed as follows: Within thirty (30) days of the appointment of the panel or arbitrators, the Party and Parties making a claim shall submit a statement of their claim to the other Party or Parties and the panel of arbitrators. The receiving Party or Parties shall have thirty (30) days after being served with the statement of claims to submit an answer to the panel of arbitrators and the other Party or Parties. Both the Statement of claims and the answer shall concisely and with specificity state each Party's position and the basis for that position.