Common use of Fifth Step Clause in Contracts

Fifth Step. If a satisfactory settlement is not reached in Step Four, within five (5) working days of receipt of answer from the Chief Executive Officer (or appointee), either the Company or the Association may notify the other party in writing of its desire to submit the difference to arbitration and the notice shall contain a statement of the difference and name of the first party’s appointee to an Arbitration Board. The recipient of the notice shall, within five (5) days, exclusive of Saturdays and Sundays and other holidays, inform the other party of the name of its appointee to the Arbitration Board. The two (2) appointees so selected shall, within five (5) working days, exclusive of Saturdays and Sundays and other holidays, of the appointment of the second of them, appoint a third person who shall be the chairman. If the recipient of the notice fails to make an appointment within the time limits, the appointment shall be made by the Minister of Labour upon the request of either party. If the two (2) appointees fail to agree upon a chairman within the time limits, the appointment shall be made by the Minister of Labour upon the request of either party. The Arbitration Board shall hear and determine the difference and shall issue an award in writing and the decision is final and binding upon the parties and upon any employee affected by it. The award of a majority is the award of the Arbitration Board, but if there is no majority, the decision of the chairman governs and shall be deemed to be the award of the Board. The Arbitration Board by its decision shall not alter, amend or change the terms of this Agreement. Each party to the difference shall bear the expenses of its respective appointee to the Arbitration Board and the two (2) parties shall bear equally the expenses of the chairman.