- Disputes can be costly
- Make sure the Agreement is clean
- Arbitration/Mediation/Court Proceedings?
- Royalty disputes
- Expect decision
“The Parties shall use all reasonable endeavours to negotiate in good faith and settle any dispute in respect of any sum paid or payable under this Agreement by one Party to the other (referred to in this clause as the “Dispute”). If the Dispute cannot be settled amicably through ordinary negotiations of appropriate representatives to the Parties within 14 days of it arising, the Dispute shall be referred to a senior officer of each Party who shall meet in order to attempt to resolve the Dispute.
If the Dispute cannot be resolved by such senior officers within fourteen (14) days of it being referred to them, it shall, at the request of either Party, be referred for final settlement to an expert nominated by agreement between the Parties or (failing such agreement within fourteen (14) days of request) to an expert nominated (on the application of either party) by the President for the first time being of the Institute of Chartered Accountants of England and Wales. Such expert shall be deemed to act as an expert and not as an arbitrator, and his decision shall (in the absence of clerical or manifest error) be final and binding on the Parties. Each party shall provide the expert with such information as he may reasonably require for the purposes of his determination. The costs of the expert shall be borne by the Parties in equal shares unless the expert determines that the conductor any Party is such that such Party should bear such a greater proportion of the costs as the expert shall in his own discretion determine.”