DISPUTE RESOLUTION AGREEMENT

This Dispute Resolution Agreement (hereinafter referred to as the “Agreement”) is made on [INSERT THE DATE ON WHICH AGREEMENT COMES INTO FORCE] (hereinafter referred to as the “Effective Date”) between:

[INSERT THE NAME OF PARTY A], having registered office at [INSERT ADDRESS OF THE PARY A] (hereinafter referred to as the “Party A” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns); and 

[INSERT THE NAME OF PARTY B], having registered office at [INSERT THE ADDRESS OF THE PARTY B] (hereinafter referred to as the “Party B” which expression shall, unless repugnant to the context or meaning thereof, means and includes its legal representatives, executors, administrators and permitted assigns).

The “Party A” and the “Party B” together shall be referred to as “Parties” and individually as a “Party”.

WHEREAS

1. The Parties wish to resolve the dispute amicably through various methods of dispute resolution as mentioned in this agreement.
2. The Parties mutually agree to the terms and conditions outlined in this Agreement, which governs the working relationship between the parties.
3. The parties are duly authorized and have the capacity to enter into this agreement.
4. Both the parties affirm to understand the provisions contained herein and in case either party requires clarification as to one or more provisions, either party has had the right to seek clarifications or sought legal guidance.

NOW, THEREFORE, in consideration of the mutual promises contained herein and intending to, be legally bound, the Parties have agreed as follows:

1. PURPOSE
   1. The Purpose of this agreement is to establish for resolving the disputes that may arise between the Parties.
2. DISPUTE RESOLUTION PROCESS
   1. Negotiation- The Parties agree that any dispute, controversy, or claim arising out of or relating to this Agreement, or the breach, termination, or validity thereof, shall first be attempted to be resolved through informal negotiations between the Parties. The Parties shall communicate their respective positions and work in good faith to reach a mutually acceptable resolution.
   2. Mediation- If the dispute cannot be resolved through such informal negotiations within [Number of days] days from the date one Party notifies the other Party of the existence of a dispute, the Parties agree to proceed with mediation as outlined in this Agreement. The Mediation shall be conducted by a mutually agreed-upon Mediator. The Mediator will facilitate discussions to help reach a mutually acceptable resolution and will not impose the decision on the parties.
   3. Arbitration- If, for any reason, such Dispute cannot be resolved amicably by the Parties, the same shall then be referred to and settled by way of arbitration proceedings in accordance with the Arbitration laws of [INSERT THE CITY or COUNTRY WHOSE ARBITRATION LAWS WILL BE APPLICABLE] then in force.
   4. Litigation- If, for any reason the dispute cannot be resolved through informal negotiations or any of the above mentioned dispute resolution within the specified timeframes, either Party may initiate litigation. The Parties agree that the courts of [INSERT THE PLACE THAT SHALL HAVE EXCLUSIVE JURISDICTION IN CASE OF DISPUTES] shall have exclusive jurisdiction over any disputes arising out of or related to this Agreement.
3. CONFIDENTIALITY
   1. Parties agree to protect the confidentiality of all discussions, negotiations, and statements (“Confidential information”) made during the dispute resolution process.
   2. Parties will hold in the strictest confidence, and take all reasonable precautions to prevent any unauthorized use or disclosure of confidential Information.
4. COSTS AND FEES
   1. The costs and fees of the dispute resolution, including the fees will be shared equally by the parties, unless otherwise agreed in writing.
5. APPLICABLE LAW
   1. This Agreement shall be governed by and constructed in accordance with the Laws, rules, orders and regulations of [INSERT THE COUNTRY WHOSE LAWS ARE APPLICABLE].
6. MISCELLANOUS
   1. Modifications: Except as otherwise provided herein this Agreement shall not be amended or otherwise modified unless the modification or amendment is done in writing, signed and has been mutually agreed by both the parties.
   2. Language: The language of all communications between the parties pursuant to this Agreement, including notices and reports, will be ENGLISH.
   3. Severability: If any provision of this Agreement shall, to any extent, be held to be invalid or unenforceable, it shall be deemed to be separate and severable from the remaining provisions of this Agreement, which shall remain in full force and effect and be binding as though the invalid or unenforceable provision had not been included.
   4. Entire agreement: This agreement along with all the Exhibits constitutes the entire understanding and agreement of the parties with respect to its subject matter and supersedes all prior and contemporaneous agreements or understandings, inducements or conditions, express or implied, written or oral, between the parties. This Agreement may be executed in identical duplicate counterparts, each of which shall be deemed an original, and both of which together shall constitute one and the same instrument. 
   5. Amendments and Assignments:  Any amendments to this Agreement shall be made, only if, both Parties agree upon such amendment in writing. This Agreement shall not be assigned by either party without the express, written consent of the other party.
   6. Headings: The headings upon the various sections are solely for convenience and reference only and shall not affect the scope, meaning, intent or interpretation of the provisions of this Agreement, nor shall such headings otherwise be given any legal effect.
7. DECLARATION
   1. The parties hereby understand and expressly agree to the provisions laid down in the present agreement and in good faith, undertake that both parties shall follow the terms of this agreement in good conscience in order to secure better growth of both the Parties.

IN WITNESS WHEREOF, the parties, intending to be legally bound, have each executed this agreement as of the effective date.

Signed, sealed and delivered on behalf of Party A

Name: [INSERT THE NAME/DESIGNATION OF SIGNING AUTHORITY OF PARTY A]

Signature:

Date: [INSERT THE DATE ON WHICH PARTY A SIGNS THE AGREEMENT]

Signed, sealed and delivered on behalf of Party B

Name: [INSERT THE NAME/DESIGNATION OF SIGNING AUTHORITY OF PARTY B]

Signature:

Date: [INSERT THE DATE ON WHICH PARTY B SIGNS THE AGREEMENT]