Common use of Ex Aequo et Xxxx Arbitration Clause in Contracts

Ex Aequo et Xxxx Arbitration. Each and every one of the Technical Disputes that cannot be settled directly by the Parties within the term provided for direct negotiation shall be submitted to an ex aequo et xxxx arbitration, in accordance with Section 57, Subsection 3 of Legislative Order No. 1071, in which the arbitrators shall rule in accordance with their knowledge and their best understanding. The arbitrators may be Peruvian or foreign experts, but in all cases, they must have ample experience in the subject matter of the respective Technical Dispute, and shall not have any conflict of interest with either of the Parties at the time of and after their appointment as such. The Arbitration Court may ask the Parties to provide the information it deems necessary to settle the Technical Dispute it is hearing, as a consequence of which it may present to the Parties a conciliation proposal, which they shall have the option to accept or not. The Arbitration Court may call for all kinds of evidence and ask the Parties or third parties to provide the evidence it deems necessary to rule on the claims filed. The Arbitration Court shall prepare a preliminary ruling to be notified to Parties within thirty

Ex Aequo et Xxxx Arbitration. Each and every one of the Technical Disputes that cannot be settled directly by the Parties within the term provided for direct negotiation shall be submitted to an ex aequo et xxxx arbitration, in accordance with Section 57, Subsection 3 of Legislative Order No. 1071, in which the arbitrators shall rule in accordance with their knowledge and their best understanding. The arbitrators may be Peruvian or foreign experts, but in all cases, they must have ample experience in the subject matter of the respective Technical Dispute, and shall not have any conflict of interest with either of the Parties at the time of and after their appointment as such. The Arbitration Court may ask the Parties to provide the information it deems necessary to settle the Technical Dispute it is hearing, as a consequence of which it may present to the Parties a conciliation proposal, which they shall have the option to accept or not. The Arbitration Court may call for all kinds of evidence and ask the Parties or third parties to provide the evidence it deems necessary to rule on the claims filed. The Arbitration Court shall prepare a preliminary ruling to be notified to Parties within thirtythirty (30) Days following its creation, after which the Parties shall have a term of five