From the course: How to Read a Business Contract

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Finding the disputes clause within a contract

Finding the disputes clause within a contract

From the course: How to Read a Business Contract

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Finding the disputes clause within a contract

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- It is always sensible at the outset of a business relationship to consider how matters can be dealt with should the relationship run into trouble at any point. This requires you to look at the dispute resolution process. Also, regular communications will not only build a good relationship, but could nip potential problems in the bud. Part of your dispute resolution process is ensuring that you have clear provisions in your contract. An escalation clause is often the first step to resolving a conflict. It outlines a process for the parties to address and resolve disputes before formal legal action is taken. You'll typically find these clauses under headings like Dispute Resolution or Escalation towards the end of the main terms of a contract. An escalation clause usually requires the parties to attempt a negotiation or escalation to a senior person in an organization in accordance with a timeframe. The next stage may be to move to mediation, which is a process involving a neutral…

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