Understanding on Rules and Procedures Governing the Settlement of Disputes
Understanding on Rules and Procedures Governing the Settlement of Disputes: one of the Uruguay Round outcomes. Its underlying theme is that prompt settlement of disputes is essential for the proper functioning of the WTO. The understanding therefore sets out in some detail the procedures and timetable to be followed in resolving disputes. There is little scope for delaying tactics. The first stage in the resolution of a dispute consists of consultation between the parties who may call on the WTO Director-General to mediate. If consultation is unsuccessful, the formation of a panel is almost automatic. If the parties disagree with the panel's findings, they may appeal to the Appellate Body, but the grounds for such appeals must be confined to legal issues.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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