Nature of settlement solutions proposed by the Conciliation Board Sample Clauses

Nature of settlement solutions proposed by the Conciliation Board. Unless otherwise agreed, the sole enforceable instrument in final settlement of the dispute shall be the memorandum of settlement signed by the Parties and the members of the Conciliation Board. In derogation of the foregoing, the Parties agree that during the period of execution of the First Phase Works, the proposed settlement solutions drawn up by the Conciliation Board shall be deemed to be enforceable interim decisions, without need for acceptance by Parties, until they are overruled, as the case may be, by an arbitral award handed down in accordance with the provisions of Article 20 hereinbelow. Such proposed settlements shall be notified to the Parties by the Conciliation Board by registered mail with advice of receipt.
Sample 1
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Related to Nature of settlement solutions proposed by the Conciliation Board

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