Dispute Resolution Policy:

A dispute resolution policy is a formal document that outlines the procedures and methods for resolving conflicts or disagreements between parties in a contract. In construction, a dispute resolution policy may be included as a clause in the contract or as a separate document referenced in the contract. The policy typically includes a graduated series of steps, such as informal negotiation, mediation, arbitration, and litigation, that the parties must follow in a specific order and timeline. The policy may also specify the selection of neutral third parties, the allocation of costs, the confidentiality and admissibility of evidence, and the enforceability of the resolution. The purpose of a dispute resolution policy is to provide a structured and efficient process for resolving disputes, minimize the disruption and expense of conflicts, and maintain the parties’ business relationship. A dispute resolution policy should be carefully crafted to fit the specific needs and circumstances of the project, and should be reviewed and agreed upon by the parties before the start of the contract.