Dispute Resolution clause is a contract clause that specifies methods and procedures for resolving conflicts between parties (which may include mediation, arbitration, or ligitation) related to an agreement. It provides a structured framework to minimize costs, reduce uncertainty, and efficiently address disputes, ensuring minimal disruption to the parties’ relationship or operations.
Drafting Tip
Outline all steps for dispute resolution, starting from negotiation to mediation/arbitration, and then litigation if necessary. Specify timelines and procedures clearly.
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