At a time when the US and EC have made, and will need to continue to make, structural adjustments to their steel capacities , they confirm their determination not to foster overcapacities in steel production through official export credits or tied aids. Therefore, the US and EC agree to seek expeditiously increased discipline over tied aid credits and other forms of subsidized official export credit support for steel plant and equipment in the OECD . When guaranteeing or granting such credits , the US and EC will take into consideration the viability of the projects and examine the possible repercussions on the stability of the steel market of the US or EC . The US and EC : Acknowledge that the interests of both parties are best served if agreement can be reached at an early stage on a common attitude on official facilities for a particular transaction ; Reaffirm , therefore, the need to promote common attitudes , particularly on important transactions ; Recognize that in certain instances , notably when existing exchange of information procedures are perceived to be functioning in an unsatisfactory manner , face-to-face consultations could facilitate the adoption of a common line ; Undertake , in such circumstances, to respond favourably to any such request for early face-to-face consultations and to attend any meeting arranged in order to reach a common attitude in conjunction with other interested participants; and Confirm moreover the importance they attach to a strict observation of the arrangement on guidelines for officially supported export credits . Article 5 1 . The US and EC shall enter into consultations with each other concerning such representations as either party may make with respect to any matter affecting the operation of this Agreement . 2 . If a dispute arises between the US and EC arising out of, or related to , the interpretation or the application of this Agreement, and if such dispute cannot be settled by means of consultation ---pagebreak--- 18 . 12 . 89 Jornal Oficial das Comunidades Europeias N° L 368 / 179 within 15 days after a request therefor made by either party , then the US or EC may notify the other party that it is referring the dispute to binding arbitration and appoint an arbitrator. Within