Common use of Escalation; Mediation Clause in Contracts

Escalation; Mediation. If a dispute arises between Client and TRITAN which cannot be resolved in the normal course, then either Party may activate the following dispute resolution procedures: The Parties’ respective Project Executives shall meet to resolve the dispute. If they do not resolve the dispute within twenty (20) business days, the issue shall be escalated to the Governance Committee, which shall have thirty (30) days to resolve the dispute. If the dispute has not been resolved within that thirty (30) day period, the issue shall be resolved through mediation. The Parties agree to select a mutually agreeable, neutral third-party to serve as a certified mediator. The mediation will take place in Limassol, Cyprus and the language of the mediation shall be English. The Mediation Agreement referred to in the mediation procedure shall be governed and construed and take effect in accordance with the laws of Cyprus. Except as may be required by law, neither a party nor the mediators may disclose the existence, content or results of any mediation without the prior written consent of both parties. The mediator will have no authority to award punitive damages, consequential damages, or liquidated damages, or any damages exceeding the limitations set forth in this Master Agreement.