Legal Agreement and Dispute Resolution

Legal Agreement

Contract will be signed between selected investors and the Municipal Development Fund of Georgia, defining the rights and obligations of each party. After the signature of the abovementioned contract, Municipal Development Fund will prepare detailed design of the public infrastructure works and announce a tender.

 

Dispute resolution

Either party having any claims to the other party relating to non-fulfillment or improper fulfillment of any obligations under this Agreement is authorized to apply to it in writing and state a reasonable period for remedy of defaults. In case of failure to reach agreement by the parties the dispute shall be resolved through court action.