Standard Dispute Resolution Board under the Public Procurement Law Clause
“The parties agree that disputes arising in connection with or as a result of the execution of the work subject of this Contract shall be submitted, in the first instance, to the Dispute Board (DB) in accordance with the Dispute Resolution Board Rules under the Public Procurement Law of the National and International Arbitration Center of the Lima Chamber of Commerce (the Rules).
The Board shall be composed of [one/three] member(s) appointed, from the Center’s list of adjudicators.
The National and International Arbitration Center of the Lima Chamber of Commerce shall be responsible for organizing and managing the Board; this task shall be discharged in accordance with the provisions set out in the Rules, which the parties declare to be fully aware of and accept.
The decision of the Board is immediately binding on the parties
If a party fails to comply with a decision of the Board, such failure shall entitle the affected party to resort to relevant contractual remedies or arbitration, in accordance with the Rules. Similarly, in the event either party disagrees with the decision issued by the Board, it may submit the dispute to arbitration, in accordance with the Rules.
The arbitration initiated shall be conducted in accordance with the Arbitration Rules of the National and International Arbitration Center of the Lima Chamber of Commerce”.