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What is an adaptation of contract?

The initial circumstances in which a long term contract was drafted may change over time. If this is the case, it may become necessary to review and adapt the contract on the basis of the new situation.

For this kind of procedure, CEPANI provides the appropriate support. When initiating  contract adaptation proceedings, CEPANI appoints an independent third party, who will either make recommendations to the parties involved, or, if both parties agree to this in advance, will formulate an compulsory rule that  binds the parties.

The costs of these proceedings are determined on the basis of the circumstances of the case. Unless otherwise agreed costs are shared on an equal basis between the parties.