The Softwood Lumber Agreement stipulates that any disputes under the agreement are to be resolved through a commercial-type binding arbitration process involving non-North American commercial arbitrators. Specifically, the Agreement provides that all disputes are to be resolved through arbitration before the London Court of International Arbitration.
Starting with the day a Party requests consultations, the schedule is as follows:
- 20 days - consultations start.
- 40 days - consultations end, arbitration can be requested.
- 70 days - Parties to nominate one arbitrator each.
- 100 days - London Court of International Arbitration to nominate chairman.
- 105 days - LCIA to appoint all three arbitrators.
- 285 days - arbitral panel to issue award.
- 315 days - conclusion of reasonable period of time for a party to cure breach;.compensatory export measures can be imposed.
- 385 days - if requested, second panel to rule on reasonableness of compensatory export measures.