Maine 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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FAQ
Dispute resolution clauses in a contract are an important expression of the parties' intention about how they're going to work together. Robust dispute resolution clauses generally provide lower cost and timely approaches to resolving disputes and may help preserve relationships.
A contract dispute happens when one or more parties disagree on the terms, definitions, and conditions contained within it. In such a case, the contract may be contested in court.
As a point of categorisation, the expression "dispute resolution clause" refers to the contractual provisions by which parties specify how their disputes are to be resolved: this includes arbitration, mediation and reference to litigation through the courts (commonly referred to as a "jurisdiction clause").
The most common disputes involve the performance of a party's duties, or where they have failed to perform their contractual duties. This is known as a breach of contract. Examples include: one party failing to deliver the agreed goods or to provide the agreed service to the other.
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.
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.
