Common use of Implementation of Final Report Clause in Contracts

Implementation of Final Report. 1. On receipt of the final report of an arbitral panel, the Parties shall agree on the resolution of the dispute. 2. If in its final report the arbitral panel concludes that a Party has not conformed with its obligations under this Agreement, the resolution, whenever possible, shall be to eliminate the non-conformity. 3. Unless the Parties decide otherwise, they shall implement the recommendations contained in the final report of the arbitral panel within a reasonable period of time if it is not practicable to comply immediately. 4. The reasonable period of time shall be mutually determined by the Parties, or where the Parties fail to agree on the reasonable period of time within 45 days of the release of the arbitral panel’s report, either Party may, to the extent possible, refer the matter to the original arbitral panel, which shall determine the reasonable period of time following consultation with the Parties. 5. Where there is disagreement as to the existence or consistency with this Agreement of measures taken within the reasonable period of time to comply with the recommendations of the arbitral panel, such dispute shall be referred to an arbitral panel proceeding, including wherever possible by resort to the original arbitral panel. 6. The arbitral panel shall provide its report to the Parties within 60 days after the date of the referral of the matter to it. When the arbitral panel considers that it cannot provide its report within this timeframe, it shall inform the Parties in writing of the reasons for the delay together with an estimate of the period within which it will submit its report. Any delay shall not exceed a further period of 30 days unless the Parties otherwise agree.