District of Columbia Clauses Requiring Referrals of Dispute to Senior Management of Venture Partners
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How to fill out Clauses Requiring Referrals Of Dispute To Senior Management Of Venture Partners?
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Section A: Dispute Settlement 1. The Parties shall at all times endeavor to agree on the interpretation and application of this Agreement, and shall make every attempt through cooperation and consultations to arrive at a satisfactory resolution of any matter that might affect its operation.
A sample clause which provides for negotiation follows. NEG 1 In the event of any dispute, claim, question, or disagreement arising from or relating to this agreement or the breach thereof, the parties hereto shall use their best efforts to settle the dispute, claim, question, or disagreement.
A dispute resolution clause is a critical clause of any contract. It will outline how parties should respond in a dispute and the preferred dispute resolution process and will avoid premature and unnecessary court proceedings.
These include diplomatic methods (negotiation, mediation, inquiry, and conciliation), and legal methods (arbitration, the International Court of Justice, other courts and tribunals, and the place of legal methods).
There is no general legal requirement to include a dispute resolution clause within your contracts or terms and conditions, and you may not wish to be locked into a process.
Dispute resolution clauses are contract terms that resolve disputes as a non-binding or binding solution. They sometimes include rules that require the parties to engage in alternative disputation, such as mediation and arbitration. The alternative is going to civil court.
