Request for Conciliation

Simple Explanation:

Sometimes the parties to the dispute are not willing to refer their dispute to the arbitration, but seek to obtain a conciliation decision from the CODAC. Therefore, they can request a Conciliation from the CODAC.

Article 45 of CODAC Arbitration Rules

Conciliation

The Parties may initially submit the request for conciliation to CODAC. The Secretary may register such a request if the provisions mentioned in sub-article 13-1 of the preset rules are met. The conciliator may be designated upon the parties’ agreement accompanied by the CODAC approval or through the CODAC selection, and shall make the Conciliation Decision within two months. The Parties shall inform the Secretary of their approval on the Conciliation Decision within a maximum of two weeks. If the Parties agreed on the Conciliation Decision, the Certificate of Conciliation or the Arbitral Award on Conciliation shall be rendered by the Tribunal and the closure of the Hearing on the basis of conciliation shall be declared.