Common use of Informal Resolution and Arbitration Option Clause in Contracts

Informal Resolution and Arbitration Option. The Parties shall make a good faith effort to amicably and informally settle by mutual agreement any dispute that may between them arise under or relates to this Subcontract. Any claim, controversy or dispute not resolved by the respective parties’ administrators shall be elevated to the parties’ executive management or their designees. If not resolved within thirty (30) days thereafter, the dispute will then be settled under Subsection (Governing Law and Forum) immediately above; provided, however, by written agreement of the Parties at the time the informal resolution fails to resolve the dispute, the Parties may agree to decide the matter by binding arbitration as an alternative to court adjudication under Subsection (Governing Law and Forum) immediately above. If the parties agree at that time to submit the matter to binding arbitration, the arbitration shall be held in and interpreted in accordance with the laws of the United States District Court or at any other place selected by mutual agreement of the Parties, on such terms and conditions as set forth in a written Terms of Arbitration that the Parties agree so long as such arbitration terms are not in conflict with the terms of this Subsection (Informal Resolution and Arbitration Option) or this Subcontract. The decision of the arbitrator(s) shall be final and conclusive upon both parties. Either party, before or during any arbitration, may apply for a temporary restraining order or preliminary injunction where such relief is necessary to the Federal Court to protect its interests pending completion of the arbitration proceedings. Neither party nor the arbitrators may disclose the existence or results of any arbitration hereunder without the prior written consent of both parties. Notwithstanding the foregoing, the Prime Contractor (BUYER) may keep the Government fully apprised of the status of and disposition of any claims, disputes or controversies under this Section. Pending the final disposition of any arbitration proceeding instituted pursuant to this Section, Subcontractor (SELLER) shall, if directed by the Prime Contractor (BUYER), proceed diligently with the performance of this Subcontract. Notwithstanding anything to the contrary, a Party’s liability under this Section shall not include exemplary, extraordinary, punitive, special, indirect or consequential damages.

Informal Resolution and Arbitration Option. The Parties shall make a good faith effort to amicably and informally settle by mutual agreement any dispute that may between them arise under or relates to this SubcontractOrder. Any claim, controversy or dispute not resolved by the respective parties’ administrators shall be elevated to the parties’ executive management or their designees. If not resolved within thirty (30) days thereafter, the dispute will then be settled under Subsection (Governing Law and Forum) immediately above; provided, however, by written agreement of the Parties at the time the informal resolution fails to resolve the dispute, the Parties may agree to decide the matter by binding arbitration as an alternative to court adjudication under Subsection (Governing Law and Forum) immediately above. If the parties agree at that time to submit the matter to binding arbitration, the arbitration shall be held in and interpreted in accordance with the laws of the United States District Court or at any other place selected by mutual agreement of the Parties, on such terms and conditions as set forth in a written Terms of Arbitration that the Parties agree so long as such arbitration terms are not in conflict with the terms of this Subsection (Informal Resolution and Arbitration Option) or this SubcontractOrder. The decision of the arbitrator(s) shall be final and conclusive upon both parties. Either party, before or during any arbitration, may apply for a temporary restraining order or preliminary injunction where such relief is necessary to the Federal Court to protect its interests pending completion of the arbitration proceedings. Neither party nor the arbitrators may disclose the existence or results of any arbitration hereunder without the prior written consent of both parties. Notwithstanding the foregoing, the Prime Contractor (BUYER) may keep the Government fully apprised of the status of and disposition of any claims, disputes or controversies under this Section. Pending the final disposition of any arbitration proceeding instituted pursuant to this Section, Subcontractor Vendor (SELLERSeller) shall, if directed by the Prime Contractor (BUYER), proceed diligently with the performance of this SubcontractOrder. Notwithstanding anything to the contrary, a Party’s liability under this Section shall not include exemplary, extraordinary, punitive, special, indirect or consequential damages.

Informal Resolution and Arbitration Option. The Parties shall make a good faith effort to amicably and informally settle by mutual agreement any dispute that may between them arise that arises under or relates to this Subcontract. Any claim, controversy or dispute not resolved by the respective parties’ administrators shall be elevated to the parties’ executive management or their designees. If not resolved within thirty (30) days thereafter, the dispute will then be settled under Subsection (Governing Law and Forum) immediately above; provided, however, by written agreement of the Parties at the time the informal resolution fails to resolve the dispute, the Parties may agree to decide the matter by binding arbitration as an alternative to court adjudication under Subsection (Governing Law and Forum) immediately above. If the parties agree at that time to submit the matter to binding arbitration, the arbitration shall be held in and interpreted in accordance with the laws of the United States District Court or at any other place selected by mutual agreement of the Parties, on such terms and conditions as set forth in a written Terms of Arbitration that the Parties agree so long as such arbitration terms are not in conflict with the terms of this Subsection (Informal Resolution and Arbitration Option) or this Subcontract. The decision of the arbitrator(s) shall be final and conclusive upon both parties. Either party, before or during any arbitration, may apply for a temporary restraining order or preliminary injunction where such relief is necessary to the Federal Court to protect its interests pending completion of the arbitration proceedings. Neither party nor the arbitrators may disclose the existence or results of any arbitration hereunder without the prior written consent of both parties. Notwithstanding the foregoing, the Prime Contractor (BUYER) may keep the Government fully apprised of the status of and disposition of any claims, disputes or controversies under this Section. Pending the final disposition of any arbitration proceeding instituted pursuant to this Section, Subcontractor (SELLER) shall, if directed by the Prime Contractor (BUYER)Contractor, proceed diligently with the performance of this Subcontract. Notwithstanding anything to the contrary, a Party’s liability under this Section shall not include exemplary, extraordinary, punitive, special, indirect or consequential damages.

Informal Resolution and Arbitration Option. The Parties shall make a good faith effort to amicably and informally settle by mutual agreement any dispute that may between them arise that arises under or relates to this Subcontract. Any claim, controversy or dispute not resolved by the respective parties’ administrators shall be elevated to the parties’ executive management or their designees. If not resolved within thirty (30) days thereafter, the dispute will then be settled under Subsection (Governing Law and Forum) immediately above; provided, however, by written agreement of the Parties at the time the informal resolution fails to resolve the dispute, the Parties may agree to decide the matter by binding arbitration as an alternative to court adjudication under Subsection (Governing Law and Forum) immediately above. If the parties agree at that time to submit the matter to binding arbitration, the arbitration shall be held in and interpreted in accordance with the laws of the United States District Court or at any other place selected by mutual agreement of the Parties, on such terms and conditions as set forth in a written Terms of Arbitration that the Parties agree so long as such arbitration terms are not in conflict with the terms of this Subsection (Informal Resolution and Arbitration Option) or this Subcontract. The decision of the arbitrator(s) shall be final and conclusive upon both parties. Either party, before or during any arbitration, may apply for a temporary restraining order or preliminary injunction where such relief is necessary to the Federal Court to protect its interests pending completion of the arbitration proceedings. Neither party nor the arbitrators may disclose the existence or results of any arbitration hereunder without the prior written consent of both parties. Notwithstanding the foregoing, the Prime Contractor (BUYER) Buyer may keep the Government fully apprised of the status of and disposition of any claims, disputes or controversies under this Section. Pending the final disposition of any arbitration proceeding instituted pursuant to this Section, Subcontractor (SELLER) shall, if directed by the Prime Contractor (BUYER)Buyer, proceed diligently with the performance of this Subcontract. Notwithstanding anything to the contrary, a Party’s liability under this Section shall not include exemplary, extraordinary, punitive, special, indirect or consequential damages.