Amiable compositeur definition

Amiable compositeur or “exacquo et bono” means dispute settlement where parties expressly agree that the Arbitrator is not bound by strict rules of law but based on fair just and moral and commercially accepted principles.
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Examples of Amiable compositeur in a sentence

  • Likewise, in the step of direct treatment prior to the initiation of arbitration, the Parties may agree on the intervention of a neutral third party, called Amiable compositeur.

  • The Amiable compositeur shall propose a Dispute settlement formula that, if accepted partially or totally by the Parties, shall produce the legal effects of an operation and, consequently, the quality of res judicata and enforceable.

  • The Amiable compositeur shall be appointed by the Parties directly or by delegation to a center or institution that administers alternative Dispute settlement mechanisms, subject to the provisions set forth in Article 56 of Legislative Decree No. 1362 and the respective provisions of its Regulations, Supreme Decree No. 240-2018-EF or amendments thereof.