Good Offices and Conciliation Sample Clauses
The Good Offices and Conciliation clause establishes a process for resolving disputes between parties by encouraging them to seek the assistance of a neutral third party before pursuing formal legal action. Typically, this involves both parties agreeing to attempt to resolve their disagreement through informal discussions or with the help of a conciliator, who facilitates communication and proposes solutions but does not impose a binding decision. This clause helps to promote amicable settlements, reduce litigation costs, and preserve business relationships by providing a structured, non-adversarial method for addressing conflicts.
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Good Offices and Conciliation. 1. Parties may at any time agree to voluntarily undertake any alternative methods of dispute resolution, such as good offices or conciliation.
2. Proceedings that involve good offices or conciliation shall be confidential and without prejudice to the rights of the Parties in any other proceedings.
3. Parties participating in proceedings under this Article may suspend or terminate those proceedings at any time.
4. If the disputing Parties agree, good offices or conciliation may continue while the dispute proceeds for resolution before an arbitral tribunal established under Article 14C.2 (Appointment of Arbitral Tribunals).