In addition to determining the events that trigger the renegotiation process, the definition or determination of the contractual obligations of the parties in this procedure is essential to the effectiveness of a clause and its legal applicability. Renegotiation clauses often contain only a comprehensive guide to the standard to be applied in order to reach an agreement. It is often referred to as « good faith, » « fairness and justice » or the objective of restoring « contractual balance, as foreseen by and in the original spirit of the treaty. » 57 The Lasmo clause is more focused on maintaining the status quo ante in trade policy and requires that « necessary changes to this agreement » be made « to ensure that THE CONTRACTOR returns to the same economic conditions as if the new law and/or regulation or amendment had not been introduced. » 58 If negotiations do not progress, are at risk of collapse or have failed, the question arises as to whether the parties are required to reach an agreement. This situation is particularly problematic because the bargaining clauses do not contain the same level of clearly defined terms of service as the « hard » contractual provisions. B such as paying a purchase price or delivering or manufacturing the object of the contract. In the interest of an interpretation based on the effectiveness of these clauses, German law provides that the parties are required to reach an agreement in this regard where the adjustment criteria and the adjustment objective are sufficiently clearly defined72. The result is based on the particular quality of the renegotiation clauses. Unlike « one-dimensional » contractual clauses, these open clauses cover several possible consensual options. It is not possible to determine in advance what will be applicable at the end; On the contrary, it depends on different circumstances, such as the negotiating forces of the parties and their respective economic circumstances at the time of the negotiations, as well as the objectives and strategic options of the parties. These circumstances are not established in advance and cannot be assessed in an objective legal sense. These considerations apply regardless of the extent to which the standards and adaptation objectives have been clarified in the clause. From an international perspective, renegotiation clauses include only the obligation for the parties to make the best possible efforts to reach an agreement within the aforementioned list.

They do not, however, ask that the parties actually reach an agreement.73 This provision has been established on several occasions, particularly in the context of the adaptation of concession or production-sharing agreements74 and under international law.75 In and of themselves, these formulations are not very important. The best that can be inferred is that, in the first case, the fair « snag and nunc » decision should normally be sought, while in the other two cases, the parties` initial expectations for balance should be given greater consideration. In reality, it can be assumed that there is no indication contrary to 1364. The parties still wish to balance their contractual obligations (even if their contract has undergone an adjustment procedure) as set out in the contract59. The idea that the parties` benefit obligations should be commercially equivalent is a general principle of international trade law.60 Therefore, it also applies if it is not expressly included in the text of the contract, for example. B with clause 61.61.61.