Common use of PREVENTION AND RESOLUTION OF DISPUTES Clause in Contracts

PREVENTION AND RESOLUTION OF DISPUTES. 1. The Focal Points shall work in coordination with each other and the Joint Committee in order to prevent, manage and reach understandings with a view to achieving the objectives of this Agreement and resolve any disputes between the parties. 2. Before starting any arbitration any dispute between the Parties concerning the interpretation or application of this Agreement shall be assessed by means of consultations and negotiations, and examined preliminarily by the Joint Committee. 3. A Party may submit a specific issue of interest of an investor to the Joint Committee: i. to initiate the procedure, the interested investor Party shall submit in writing its request to the Joint Committee, specifying the name of the investor concerned and the challenges or difficulties encountered; ii. the Joint Committee shall have a period of 60 days, extendable by mutual agreement, by 60 days, upon justification, to submit any relevant information of the case presented; iii. in order to facilitate the search for solution among the parties concerned, wherever possible, should participate in all or part of the bilateral meeting: a) investor representatives interested; b) representatives of governmental or non-governmental entities involved in the measure or query object situation. iv. The bilateral dialogue and consultation procedure shall terminate at the initiative of any of the Parties concerned by submitting a summary report to the meeting of the subsequent Joint Committee with: a) A identification of the Party b) The identification of the interested investors c) description of the measure subject to the consultation; and d) the position of the Parties in respect of the measure. 4. The Joint Committee shall, whenever possible, to convene special meetings to assess the questions referred. 5. All documentation and arrangements for the mechanism set out in this article, as well as the Joint Committee meetings, will have reserved character except the submitted reports. 6. If it is not possible to settle a dispute arising under paragraph 2 of this article on the recommendation of the Joint Committee, the Parties may resort to arbitration mechanisms between States to resolve the said dispute.

PREVENTION AND RESOLUTION OF DISPUTES. 1. The Focal Points shall work in coordination Ombudsmen will liaise with each other and with the Joint Committee in order to prevent, manage and reach understandings with a view to achieving the objectives of this Agreement and resolve any disputes between the partiesParties. 2. Before starting any arbitration proceeding, any dispute between the Parties concerning the interpretation or application of this Agreement shall parties should be assessed by means of through consultations and negotiations, negotiations and should have been preliminarily examined preliminarily by the Joint Committee. 3. A Party may submit a specific issue of interest of an investor to the Joint Committee. The procedure to conduct an arbitration proceeding is as follows: i. to initiate the procedurea proceeding, the interested investor Party shall submit in writing its their request to the Joint Committee, specifying the name of the investor concerned and the challenges or difficulties encountered;difficulties. ii. the Joint Committee shall have a period of 60 days, extendable by mutual agreement, by 60 days, upon justification, days to submit any present relevant information of the case presented; iiipresented case. in Such period may be extended to 60 additional days, provided that it is justified and agreed by the ▇▇▇▇▇▇▇.▇▇ order to facilitate the search for development of a solution among between the parties concerned, wherever the following should, whenever possible, should participate take part, fully or partially, in all or part of the bilateral meeting: a) the representatives of the interested investor representatives interested; b) the representatives of governmental or non-governmental entities and nongovernmental organizations involved in the measure or query object situation. iviii. The the dialogue procedure and bilateral dialogue and consultation procedure shall terminate at is terminated upon the initiative request of any either of the Parties concerned by submitting a summary involved upon the service of the summarized report to of the following meeting of the subsequent Joint Committee withCommittee: a) A identification of the PartyParties’ identification b) The identification of the interested investors c) the description of the measure subject to object of the consultation; andquery d) the position of the Parties in respect of concerning the measure. 4. The Joint Committee shall, whenever possible, to convene special meetings to assess the questions referredsubmitted questions. 5. All documentation and arrangements for concerning the mechanism set out established in this article, article as well as the Joint Committee meetingsmeetings shall be confidential, will have reserved character except the submitted presented reports. 6. If In cases where it is not possible to settle a dispute arising under paragraph 2 of this article on resolve the recommendation of the Joint Committeedispute, the Parties may resort opt to take a recourse to arbitration mechanisms between States to resolve be developed by the said dispute.Joint Committee, when considered appropriate by the Parties