Notice; Resolution of Contract Disputes Sample Clauses
The "Notice; Resolution of Contract Disputes" clause establishes the procedures parties must follow to formally notify each other of any disagreements arising under the contract and outlines the steps for resolving such disputes. Typically, this clause requires that disputes be communicated in writing within a specified timeframe and may mandate negotiation, mediation, or other alternative dispute resolution methods before litigation can be pursued. Its core function is to ensure that both parties address conflicts in an orderly and documented manner, promoting efficient resolution and minimizing the risk of escalation or misunderstandings.
Notice; Resolution of Contract Disputes. Within ten (10) Business Days after notification of a Contract Dispute by Owner or Consultant to the other, representatives of Owner and Consultant, each with full authority to resolve the Contract Dispute, shall meet in person. If the Parties resolve the Contract Dispute, in whole or in part, the Parties’ respective representatives shall execute a written memorandum setting forth the substance of the Contract Dispute, the mutually-agreed resolution, or any portion thereof so resolved, and the actions to be taken by the Parties to implement the resolution. Such executed memorandum shall be conclusive evidence of the mutually-agreed resolution, which the Parties shall thereafter implement in accordance with the agreement of the Parties.