Improving the Way Price Revision Negotiations and Disputes Are Conducted
What is it about?
- How to create an incentive scheme
- How to define benchmarks and objectives
- Abandon “formal negotiations”?
- Make use of alternative dispute resolution mechanisms before turning to arbitration
- Involve industry experts to challenge your case
- Choose a coherent and complementary team of lawyers, experts and witnesses to support your case
- Alternative claims/arguments
- The role of document production and preparing for it
- Use industry experts rather than lawyers as arbitrators?
- Interpretative guidance rather than decision on new price as primary objective?
- Common law vs. civil law: does it make a difference in practice?
- Adjusting claims /arguments – sign of strength or weakness?
Lessons learned from arbitrations
- Are price reviews still required?
- Include current market as basis into price review clauses?
- Establish dispute adjudication boards for LTCs?
- Publish awards as guidance for industry?