Mediations are designed to enable parties to resolve their disputes and to agree to procedures most likely to resolve issues in a cost-effective manner. When parties enter into contract based on standard terms of GPC Pulses Contract #1, both agree to first consider resolving any dispute through Gafta Mediation in accordance with Gafta Mediation Rules 128. If either party declines mediation, disputes arising out of subject contract or any claim regarding the interpretation or execution of subject contract are determined by arbitration in accordance with the GAFTA Simple Disputes Arbitration Rules 126.
Mediation generally takes place with face-to-face meetings between the parties and the Mediator. To minimize costs, it is recommendation of GPC that the parties agree that Mediation will take place at the location of the Mediator (thus avoiding additional travel and accommodation costs for the Mediator). The critical issue is to have the decision-makers available to discuss the issues in dispute to come to a resolution.