Common use of Disputes between the Contracting Parties Clause in Contracts

Disputes between the Contracting Parties. 1. The Contracting Parties shall seek in good faith and a spirit of cooperation a rapid and equitable solution to any dispute between them concerning the interpretation or application of this Agreement. In this regard, the Contracting Parties agree to engage in direct and meaningful negotiations to arrive at such solutions. If such negotiations are unsuccessfull, the dispute may be submitted, upon the request of either Contracting Party, to an arbitral tribunal for binding decision in accordance with the applicable rules of international law accepted by each Contracting Party.

Disputes between the Contracting Parties. 1. The Contracting Parties shall seek in good faith and a spirit of cooperation a rapid and equitable solution to any dispute between them concerning the interpretation or application of this Agreement. In this regard, the Contracting Parties agree to engage in direct and meaningful negotiations to arrive at such solutions. If such negotiations are unsuccessfullthe Contracting Parties cannot reach an agreement within six months after the beginning of dispute between themselves through the foregoing procedure, the dispute may be submitted, upon the request of either Contracting Party, to an arbitral tribunal for binding decision in accordance with the applicable rules of international law accepted by each Contracting Partythree members.

Disputes between the Contracting Parties. 1. The Contracting Parties shall seek in good faith and a spirit of cooperation a rapid and equitable solution to any dispute between them concerning the interpretation or application of this Agreement. In this regard, the Contracting Parties agree to engage in direct and meaningful negotiations to arrive at such solutions. If such negotiations are unsuccessfullunsuccessful[], the dispute may be submitted, upon the request of either Contracting Party, to an arbitral tribunal for binding decision in accordance with the applicable rules of international law accepted by each Contracting Party.