Improving the Way Price Revision Negotiations and Disputes Are Conducted

July 6, 2017 10:15am

What is it about?

Negotiation phase

  • 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

 

Preparing 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

 

Conducting Arbitration

  • 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?