As per clause 65 of PPPIA 2019, the parties shall first try to resolve the dispute through mutual discussion or negotiation. If unable to do so, the dispute can then be resolved through negotiations by the IBN office. In case of failure to resolve the dispute through negotiation through the IBN office, parties can refer to arbitration proceedings as mentioned in the agreement. In the absence of arbitration proceedings being mentioned in the agreement, the dispute shall be settled under the arbitration laws of Nepal. Unless the disputing parties agree otherwise, the settlement of any dispute arising from any foreign investment shall be conducted through arbitration under prevailing regulations and proceedings of the United Nations Commission on International Trade Law (UNCITAL).