Model Disputes Resolution Clause
In case of any dispute arising out of or in connection with this contract, including any question concerning its existence, validity, performance or termination, within thirty (30) calendar days upon knowledge of the dispute, both parties have agreed to make best and good faith effort to amicably negotiate, directly or indirectly, a mutually acceptable settlement agreement.
Failure to reach a mutually acceptable settlement agreement through negotiation within the timeframe specified above, both parties have agreed to seek mediation/conciliation by a neutral mediator/conciliator with relevant legal or/and business knowledge to be appointed by the NCAC and who shall invite both parties to attend the conciliation session within fifteen (15) calendar days after the date of receipt of submission of request for appointment of a conciliator from either party. The conciliator shall complete the non-binding advisory conciliation as soon as possible, but no later than thirty (30) calendar days from the date of submission.
Failure to obtain conciliation service or failure to reach a mutually acceptable settlement agreement through a mediation/conciliation specified above, both parties have agreed the dispute shall be referred to and finally resolved by arbitration in the Kingdom of Cambodia in accordance with the Arbitration Rules of the National Commercial Arbitration Center (NCAC) being in force at the time of commencement of arbitration and by reference in this clause the NCAC Rules are deemed to be incorporated as part of this contract.
The Tribunal shall consist of ________________* arbitrator(s).The arbitrator(s)shall be fluent in the arbitration language and have legal and business knowledge related to the area(s) in dispute.
* State an odd number.
The language of the conciliation and the arbitration shall be in ___________________. The parties may agree to waive the language requirement for written evidence and oral or written witness statements as long as the concerned conciliator or the arbitration Tribunal could easily understand the language(s) of the written evidence and oral or written witness statements.
The costs of the conciliation and arbitration services (including registration fees, administration fee, conciliator and arbitrator(s) fees and out-of-pocket expenses, and any costs for acquiring services of factual and expert witness) shall be:
equally shared between the parties □
fully borne by the losing party or as the concerned conciliator or arbitration Tribunal considers appropriate depend on the action of each party to the dispute □.
Party’s expenses including lawyer’s fee and conciliation and arbitration attendance expenses shall be borne solely by the respective party.
Both parties have further agreed that neither party will seek any intervention from any court of law prior to completion of the disputes resolution procedures specified above. Any party who breaches this ‘no court intervention’ clause is obligated to pay an indemnity equivalent to [USD ……..] to another party.
This contract is governed by the laws of ___________________**.
** State the country or jurisdiction.