Common use of Nonmonetary Clause in Contracts

Nonmonetary. If the parties, having met in joint conference, do not reach agreement, either party may invoke the services of a mediator who is the joint selection of the parties from a list of five mediators obtained from the American Arbitration Association. If the parties are unable to jointly select a mediator from the list, each party will cross off the name of a mediator until only one name is left, and the mediator whose name is left will be asked to serve. The compensation and expenses of the mediator are borne equally by TVA and the EA. If agreement on an issue is not reached through mediation, either party, within 30 days after the end of mediation, may refer the matter to a tribunal for decision. The tribunal consists of one member appointed by TVA, one member appointed by the EA, and one member selected from a list of five persons jointly developed by the parties. Selection from this list will be by mutual agreement or, if no agreement is reached, each party alternately crossing off the name of an individual until one name is left. The individual whose name is left will be asked to serve. The parties shall bear the costs for their own appointee and shall share the costs equally for the third party. Within 30 days after selection of the full tribunal, each party will submit to the tribunal a statement of its final position which is established prior to mediation on each issue to be arbitrated. It sends a copy of the statement to the other party. Either party may request the tribunal to hold a hearing. If requested, a hearing will be scheduled within 30 days at a mutually agreeable site. At the close of the hearing, either or both parties may advise the tribunal of its intent to submit a brief to the tribunal within 30 days. If a brief is submitted, a copy is also sent to the other party.

Nonmonetary. If the parties, having met in joint conference, do not reach agreement, either party may invoke the services of a mediator who is the joint selection of the parties from a list of five mediators obtained from the American Arbitration Association. If the parties are unable to jointly select a mediator from the list, each party will cross off the name of a mediator until only one name is left, and the mediator whose name is left will be asked to serve. The compensation and expenses of the mediator are borne equally by TVA and the EA. If agreement on an issue is not reached through mediation, either party, within 30 days after the end of mediation, may refer the matter to a tribunal for decision. The tribunal consists of one member appointed by TVA, one member appointed by the EA, and one member selected from a list of five persons jointly developed by the parties. Selection from this list will be by mutual agreement or, if no agreement is reached, by each party alternately crossing off the name of an individual until one name is left. The individual whose name is left will be asked to serve. The parties shall bear the costs for their own appointee and shall share the costs equally for the third party. Within 30 days after selection of the full tribunal, each party will submit to the tribunal a statement of its final position which is established prior to mediation on each issue to be arbitrated. It sends a copy of the statement to the other party. Either party may request the tribunal to hold a hearing. If requested, a hearing will be scheduled within 30 days at a mutually agreeable site. At the close of the hearing, either or both parties may advise the tribunal of its intent to submit a brief to the tribunal within 30 days. If a brief is submitted, a copy is also sent to the other party.