Dispute Resolution Indemnification Sample Clauses
Dispute Resolution Indemnification. Any dispute arising out of or relating to the Insurance Agreement shall be settled by the mutual agreement of the parties, and in case of disagreement, the dispute thereto shall be resolved according to the order established by the legislation of Georgia.
1. Each party shall be liable to reimburse the second party for the damage caused by its action, according to the order established by the legislation of Georgia.
Dispute Resolution Indemnification. (a) The parties agree that the following dispute resolution procedures shall govern any dispute arising out of or in connection with any claims for indemnification pursuant to this Article IX (an “Indemnification Dispute”).
(b) In the event of an Indemnification Dispute, either party may initiate negotiation proceedings by sending a letter (the “Negotiation Letter”) to the other party in which event the parties shall attempt in good faith to resolve any Indemnification Dispute promptly by negotiation. Such Negotiation Letter shall set forth the particulars of the dispute, the terms of the Agreement that are involved and a suggested resolution. The recipient of the letter must respond within 20 days and include a response to the proposed solution. If the matter has not been resolved within 60 days of a party’s request for negotiation (the “Negotiation Period”), either party may initiate arbitration as provided below.
(c) In the event of an Indemnification Dispute that is not resolved within the Negotiation Period, either party may seek expedited and binding arbitration administered by the American Arbitration Association (“A.A.A.”) according to its Commercial Arbitration Rules subject to the following procedures:
(i) The party desiring to initiate arbitration in connection with any Indemnification Dispute shall notify the other party in writing, which notice shall include a demand for arbitration and include a statement of the matter in controversy in reasonable detail setting forth the basis of the Indemnification Dispute and the relief being sought, and shall file a copy of the demand for arbitration with the Administrator of the A.A.A. in Dallas, Texas together with the appropriate filing fee.
(ii) The party receiving such notice must file any response or counterclaim within 30 days after service of the demand. Failure to file a counterclaim or response shall not operate to delay the arbitration proceedings.
(iii) The initiating party must file a response to any counterclaim within 15 days of the filing of the counterclaim.
(iv) After the filing of the claim, response and counterclaim, and any response to counterclaims, no further claims or counterclaims may be made, except on motion to the arbitrators.
(v) The case shall be submitted to a panel of three independent and impartial arbitrators jointly selected by the parties. If, after a period of 15 days from the filing of the demand for arbitration, the parties are unable to jointly agree on the identity...
Dispute Resolution Indemnification