Contract Dispute Contract Is a Mutual Agreement Essay

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Contract Dispute

Contract is a mutual agreement between at least two persons or parties, aimed at achieving a certain business goal. A contract can be oral or written, although, over the years, written contract has been preferred due to disputes that may arise in the later period of the contract. Often a lawyer is required during the mutual agreement, to ensure that the contract is legal, and serve as a witness of the agreement between the two. Contractual disputes can be during or even after the business process. This often results due to disagreements between the two parties or even misunderstanding.

Procedures in solving contract dispute

Contract Dispute Act is set by the United State that provides guidelines and procedures required whenever a dispute arises, and such disputes resolutions differ depending on the nature of dispute involved. Dispute resolution process involves filing a contract dispute between the two parties and seeks informal resolution with the institution, company, giving the contract. This is always solved with a set of legal counsel, with an exception of fraud cases involved. Dispute between the two parties can be solved informally, given twenty business days, and the parties can seek Dispute Resolution personals to aid in the mutual understanding. When informal resolution proves not to respond to the conflict resolving, Dispute resolving body then intervenes and sets the best method to be used to solve the dispute.

Contract Dispute form is then filled with the parties involved which includes; address, name and contacts of the parties involved, nature of the contract, detailed entities of the legal basis of the contract and even the date when the contract dispute form is filled. Monetary nature, monetary statement of the contract, signatures of both parties' representatives and means by which the form will be obtained by both parties. A copy of the filled contract forms is then left with the Dispute Resolving Body. Submission of the contract form can be joint, or each party separate, and is done when the dispute is proven difficult to solve informally.

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Either mode of submission should fulfill the requirements and are directs to the Office of Dispute Resolution. The forms should also explain the reasons as to why the dispute has accrued and why the Judicative process will be needed.

Dispute Resolution officers will then determine whether to dismiss or submit the decision regarding the dispute. Contract dispute decision depends on several factors including; time when the Dispute Resolution office acquired the dispute form, time taken, by the subcontractor, to fill it, state of matter that is set to be decided upon and any considerations, such as material that need to be taken into account by dispute resolving officers. The company's final decision is considered to be the first legal form of litigation procedure followed in dispute resolution.

Alternative contract dispute

An alternative contract resolution process can be applied, which aims at reducing any interference that might accrue while solving the dispute between the two conflicting parties. Alternative contract resolution process occurs on primary levels such as personal negotiations, arbitration, and mediation among other methods in dispute resolution. This minimizes time wastage and is an added advantage to the business parties involved in the dispute since it is financially advisable. It is mostly preferred, since; it does not involve lengthy procedures while solving disputes, as opposed to the Dispute Resolving Act as set by the United States government. However, alternative dispute resolution requires that there must be a controversial issue that acts as the basis of dispute between the two parties, acceptance and willingness of both parties in resolving their conflicts in one of the alternative way they consider best, and finally, the two parties should agree on the officials who will lead them through the resolution process. The officials involved….....

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