Common use of Basis for Arbitration Clause in Contracts

Basis for Arbitration. The parties to this Agreement understand and agree that the wording and interpretation of this Agreement is based on the usual customs and practices of the insurance and reinsurance industry. While the parties agree to act in good faith in our dealings with each other, it is understood and recognized that situations may arise in which agreement cannot be reached. In the event that the parties cannot resolve any dispute to their mutual satisfaction, the dispute will first be subject to good-faith negotiation as described below in an attempt to resolve the dispute without the need to institute formal arbitration proceedings.

Basis for Arbitration. The parties to this Agreement mutually understand and agree that the its wording and interpretation of this Agreement is based on the usual customs and practices of the insurance and reinsurance industry. While the all parties mutually agree to act in good faith in our dealings with each other, it is understood and recognized that situations may arise in which an agreement cannot be reached. In the event that any dispute cannot be resolved to the mutual satisfaction of the parties cannot resolve any dispute to their mutual satisfactioninvolved, the dispute will first be subject to good-faith negotiation as described below in an attempt to resolve the dispute without the need to institute formal arbitration proceedings.

Basis for Arbitration. The parties to this Agreement understand and agree that the wording and interpretation of this Agreement is based on the usual customs and practices of the insurance and reinsurance industry. While the parties agree to act in good faith in our dealings with each other, it is understood and recognized that situations may arise in which agreement cannot be reached. In the event that the parties any dispute cannot resolve any dispute be resolved to their our mutual satisfaction, the dispute will first be subject to good-faith negotiation as described below in an attempt to resolve the dispute without the need to institute formal arbitration proceedings.

Basis for Arbitration. The parties to this Agreement understand and agree that the wording and interpretation of this Agreement is based on the usual customs and practices of the life insurance and life reinsurance industry. While the parties agree to act in good faith in our dealings with each other, it is understood and recognized that situations may arise in which agreement cannot be reached. In the event that the parties cannot resolve any dispute to their mutual satisfaction, the dispute will first be subject to good-faith negotiation as described below in an attempt to resolve the dispute without the need to institute formal arbitration proceedings.