Common use of Implementation of the Final Report Clause in Contracts

Implementation of the Final Report. 1. The final report of the arbitral tribunal shall be final and binding on the parties and shall not be subject to appeal. 2. Unless the parties agree otherwise, they shall immediately implement the decision of the arbitral tribunal contained in the final report. 3. If the respondent fails to comply immediately, it shall do so within a reasonable period of time. The reasonable period of time may be set by the arbitral tribunal at the request of either of the parties together with comments referred to in article 13.11.7, taking into account the complexity of the de facto and de jure issues implied and the nature of the final report. in the absence of agreement between the parties and in the absence of a prior determination by the arbitral tribunal, either party within 30 days following the public disclosure of the final report, it may refer the matter to the arbitral tribunal, which shall in consultation with the parties, determine the reasonable period of time within 30 days of the request. the reasonable period of time should not exceed 90 days.