Common use of Non-Binding Opinion Clause in Contracts

Non-Binding Opinion. You may ask the Trustee for a non-binding opinion on whether CFM’s conduct violates the Conduct Policies. If the Trustee determines that CFM is in violation of the Conduct Policies, then CFM must inform you and the Trustee of whether it plans to implement the Trustee’s decision. If CFM states that it intends to comply, then it has 60 days to do so. But note that the use of the Trustee for a non-binding opinion is not a mandatory step in the dispute resolution process. You are free to proceed directly to arbitration (after consulting with the CFM Liaison Officer). ➢ Arbitration: If the CFM Liaison Officer does not satisfy your concerns, you can initiate arbitration administered by the International Chamber of Commerce (ICC), or ad hoc arbitration conducted under the UNCITRAL Rules of Arbitration.5 In both cases, the decisions and awards of the Arbitral Tribunal will be final and binding. If you succeed in arbitration, CFM may be subject to damages and 5 By initiating arbitration proceedings, beneficiaries forfeit their rights to seek redress for the alleged breach before other judicial or other forums.

Non-Binding Opinion. You may ask the Trustee for a non-binding opinion on whether CFM’s conduct violates the Conduct Policies. If the Trustee determines that CFM is in violation of the Conduct Policies, then CFM must inform you and the Trustee of whether it plans to implement the Trustee’s decision. If CFM states that it intends to comply, then it has 60 days to do so. But note that the use of the Trustee for a non-binding opinion is not a mandatory step in the dispute resolution process. You are free to proceed directly to arbitration (after consulting with the CFM Liaison Officer). ➢ ⮚ Arbitration: If the CFM Liaison Officer does not satisfy your concerns, you can initiate arbitration administered by the International Chamber of Commerce (ICC), or ad hoc arbitration conducted under the UNCITRAL Rules of Arbitration.5 In both cases, the decisions and awards of the Arbitral Tribunal will be final and binding. If you succeed in arbitration, CFM may be subject to damages and 5 By initiating arbitration proceedings, beneficiaries forfeit their rights to seek redress for the alleged breach before other judicial or other forums.