ESCALATION PROCESS AND DISPUTE SETTLEMENT Sample Clauses

ESCALATION PROCESS AND DISPUTE SETTLEMENT. The Parties will review the operation of the Agreement both through the bi-weekly engineering meetings and the Leadership Team meetings. A specific trigger review meeting will be held twelve (12) months after the Effective Date between the Leadership Team to status the operation of the Agreement and focus the Parties on assessing the successful operation of the Agreement. An output of this review meeting will be an agreement to implement any agreed changes necessary to enhance or modify the Agreement in order to better achieve the WHEREAS objectives. In the event that the Parties are in formal written notified dispute regarding any aspect of the Agreement then the Parties will submit to an internal escalation process before implementing any formal legal proceedings. This escalation process will be by referral to the Leadership Team for resolution. If this cannot be achieved to the Parties mutual satisfaction within 15 working days then the dispute will be referred to the next level of appropriate directorship within each of the Parties for resolution. If this cannot be achieved to the Parties mutual satisfaction within 10 working days then the dispute will be referred to arbitration.