Provision Language
13. Miscellaneous
13.1 Dispute Resolution.
(a) In the event of any dispute between any of the Parties (collectively “Claim“) arising in connection with the Project or this Agreement, the applicable Parties shall use their best endeavors to promptly and amicably resolve such Claim in good faith. However if they are unable to do so through informal discussion and negotiation between the applicable Parties the Parties agree that such Claim shall be first submitted to a neutral third party mediator to be selected by mutual agreement by the applicable Parties.
(b) If the applicable Parties cannot agree on a mediator within thirty (30) days of written request to do so by any Party, the mediation shall be conducted by a panel of mediators with each applicable Party selecting one third party mediator and the third party mediators collectively selecting one neutral mediator. Each applicable Party shall bear its own fees and costs incurred in the mediation including fees and costs of its mediator. Fees and costs of the neutral mediator shall be borne equally by the applicable Parties.
(c) If the mediator(s) certify at any time that it appears unlikely that further mediation will resolve the dispute or if no binding resolution is reached within ninety (90) days after the dispute is first submitted to the mediator(s), then the matter shall be submitted to binding arbitration in New York City in accordance with the Rules of Arbitration of the International Chamber of Commerce.