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The document titled 'Terms of Appointment of Expert Panel' is a legally binding agreement between Party A, Party B, and a Panel Member. The purpose of this document is to appoint an expert panel to settle any disputes or matters arising out of or in connection with a separate agreement between Party A and Party B. The importance of this document lies in its ability to provide a fair and impartial resolution to any disputes that may arise between the parties.
The document begins with a preamble that outlines the background and context of the agreement. It states that Party A and Party B have entered into an agreement, which includes a provision for an expert panel to settle disputes. The panel member, who is an independent expert, has agreed to serve on the terms set out in this document.
The first section of the document establishes the role of the panel member. It states that the panel member must act impartially and disclose any potential conflicts of interest. The panel member is not an arbitrator but has the authority to decide any disputes referred to them.
The second section outlines the powers of the panel member. They have the power to request clarification or additional information from the parties, conduct site visits and inspections, convene meetings, appoint advisors, and make use of their own specialist knowledge. The panel member must convene a meeting at the request of either party to allow for oral submissions before reaching a decision.
The third section sets a timeframe for reaching a decision. The panel member, along with the other members of the panel, must reach a decision within 90 days of receiving the notice to refer. The decision must be in writing and provide reasons for the decision.
The fourth section addresses the costs associated with the expert determination. Each party is responsible for their own costs, while the reasonable costs and expenses of the panel members are shared equally between the parties. The panel member is entitled to a fee based on an hourly rate and reimbursement for any disbursements incurred.
The fifth section includes provisions for the termination of the panel member's appointment. The appointment may be terminated if the panel member fails to act in accordance with the terms of the appointment, engages in misconduct, or is unable to perform their obligations. If the termination is due to the panel member's default or misconduct, the parties are not liable to pay their costs and expenses.
The document concludes with standard clauses regarding the enforceability of the agreement and the jurisdiction for any disputes. It also includes provisions for serving notices between the parties.
In summary, the 'Terms of Appointment of Expert Panel' document is crucial for ensuring a fair and impartial resolution to any disputes between Party A and Party B. It outlines the role and powers of the panel member, sets a timeframe for reaching a decision, addresses the costs involved, and includes provisions for the termination of the panel member's appointment.
To use the 'Terms of Appointment of Expert Panel' document effectively, follow these steps:
1. Ensure impartiality: The panel member must act impartially and disclose any potential conflicts of interest. This ensures a fair resolution to any disputes.
2. Understand the powers of the panel member: The panel member has the authority to request clarification, conduct site visits, convene meetings, and appoint advisors. Familiarize yourself with these powers to make the most of the expert determination process.
3. Provide necessary information: Cooperate with the panel member by providing any requested clarification or additional information. This will help them make an informed decision.
4. Participate in meetings: If either party requests a meeting, make sure to attend and present your oral submissions. This gives you an opportunity to present your case directly to the panel.
5. Respect the timeframe: The panel member, along with the other members of the panel, must reach a decision within 90 days of receiving the notice to refer. Be aware of this timeframe and cooperate to ensure a timely resolution.
6. Share costs equally: Each party is responsible for their own costs, while the reasonable costs and expenses of the panel members are shared equally. Be prepared to contribute your share.
7. Termination of appointment: If the panel member fails to act in accordance with the terms of the appointment, engages in misconduct, or is unable to perform their obligations, their appointment may be terminated. Understand the circumstances under which this may occur.
8. Maintain confidentiality: Keep the fact that the expert determination is taking place and its outcome confidential. Treat all documentation, information, and submissions as confidential unless required by law.
9. Serve notices correctly: Follow the specified methods for serving notices, whether by hand, email, or post. Ensure that notices are delivered within the specified timeframes.
By following these steps, you can effectively utilize the 'Terms of Appointment of Expert Panel' document to resolve any disputes or matters arising between Party A and Party B.