Paragraph 1 Primary objectiveI1

The primary objective of these arbitration rules is to achieve a fair, impartial, final and binding award on the substantive difference between the parties to the dispute (save as to costs) within four months from the date the arbitrator is appointed pursuant to article 40 of this Order.

The parties will first use their reasonable endeavours to settle a dispute amicably through negotiations undertaken in good faith by the senior management of the parties. Any dispute which is not resolved amicably by the senior management of the parties within 20 working days of the dispute arising, or such longer period as agreed in writing by the parties, shall be subject to arbitration in accordance with the terms of this Schedule.

The arbitration will be deemed to have commenced when a party (“the Claimant”) serves a written notice of arbitration on the other party (“the Respondent”).