Common use of Costs 1 Clause in Contracts

Costs 1. Each Party shall bear its own expenses derived from the participation in the mediation procedure. 2. The Parties shall share jointly and equally the expenses derived from organisational matters, including the remuneration and expenses of a mediator. The remuneration of a mediator shall be the same as that provided for the chairperson of an arbitration panel in accordance with Rule 12 of Annex 7 (Rules of Procedure). ANNEX 10 MEDIATION MECHANISM FOR THE RESOLUTION OF DISPUTES BETWEEN INVESTORS AND PARTIES ARTICLE 1 Objective The objective of the mediation mechanism is to facilitate the finding of a mutually agreed solution through a comprehensive and expeditious