New York 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
The most common types of ADR for civil cases are mediation, settlement conferences, neutral evaluation, and arbitration.
What is an ADR Clause? An ADR clause is part of a business agreement that stipulates how a potential dispute that arises within the parameters of that agreement will be resolved. This is decided before work begins. These clauses may refer to one or more ADR strategies (usually arbitration and/or mediation).
ADR clauses are included in contracts to avoid expensive lawsuits by providing parties a less contentious alternative than the court to resolve problems stemming from that contract or agreement.
Any dispute arising out of or in connection with this contract shall, at first instance, be referred to a mediator for resolution. The parties shall attempt to agree upon the appointment of a mediator, upon receipt, by either of them, of a written notice to concur in such appointment.
The dispute resolution clause(s) must provide certainty and set out a clear mechanism for the resolution of a dispute. They need to be more than an agreement to agree to resolve any dispute. They should provide some detail about the dispute resolution process and how this will be undertaken.
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.
Sample Construction Clause The parties agree that any claim or dispute relating to this agreement, as well as any other matters, disputes, or claims between them, shall first be Mediated and/or Arbitrated in an attempt to resolve any and all issues. Initially, the parties agree to consider mediating the dispute.
Alternative dispute resolution (ADR) allows parties to customize their dispute resolution process. Parties can insert the standard arbitration or mediation clause in their contract and can further customize their clause with options that control for time and cost.
The dispute resolution clause(s) must provide certainty and set out a clear mechanism for the resolution of a dispute. They need to be more than an agreement to agree to resolve any dispute. They should provide some detail about the dispute resolution process and how this will be undertaken.
In the event a dispute shall arise between the parties to this [contract, lease, etc.], it is hereby agreed that the dispute shall be referred to United States Arbitration & Mediation for arbitration in ance with United States Arbitration & Mediation Rules of Arbitration.
