Common use of Technical Expert Clause in Contracts

Technical Expert. 17.1 In the event of any dispute or disagreement of a technical nature between the parties which arises out of or in connection with the Agreement, the outcome of such dispute will be determined by independent third party investigation and recommendation. The parties shall select and agree the identity of the technical expert who is to carry out an investigation, in writing, in the event of any dispute or disagreement (both parties acting reasonably and in good faith). 17.2 The decision of the Technical Expert (which shall be given by the Technical Expert in writing stating their reasons for the decision made) shall be final and binding on the parties. 17.3 Each party shall provide the Technical Expert with such information as the Technical Expert may reasonably require for the purposes of the determination, if either party claims such information to be confidential to it then, provided that in the opinion of the Technical Expert that party has properly claimed the same as confidential, the Technical Expert shall not disclose the same to the other party or to any third party. 17.4 The cost of such Technical Expert shall be borne in such proportions as the Technical Expert may determine to be fair and reasonable in all the circumstances or, if no such determination is made by the Technical Expert, the cost shall be borne by the parties in equal proportions.