Dispute boards are an offspring of the construction industry but may very well be used in other sectors as well: At a time when no dispute has yet arisen, the parties to a project agree to appoint a board of neutrals (normally three). The neutrals accompany the project and are permanently informed of its progress and of any issues that may arise. This allows speedy decisions in case of any disputes – based on a great amount of credibility, and thus, perceived legitimacy. The result: a significant decrease in costs.
BODENHEIMER HERZBERG can assist when it comes to the drafting of a dispute board structure, and its implementation, and when it comes to choosing the right appointees.