The West Indies Cricket Board has asked the Board of Control for Cricket in India for a “mutually agreeable solution” over its demand for £26.2m.
The BCCI is pursuing compensation after West Indies players abandoned a tour of India in October in a dispute with their own board over pay.
“The premature end to the tour of India was extremely unfortunate,” said a WICB statement.
“The WICB is committed to ensuring that such events do not recur.”
West Indies left India four matches into a five-game one-day international series, with a Twenty20 international and three Tests still to play.
The statement continued: “The WICB will continue to use its best endeavours to meet with the BCCI to discuss all relevant matters pertaining to the premature end to the tour of India.
“The WICB respects the decisions of the BCCI but continues to trust that discussions can result in a mutually agreeable resolution.”
The Caribbean board said that, contrary to speculation, Richie Richardson had not been replaced as team manager, though there was no mention of the futures of Test captain Denesh Ramdin, one-day skipper Dwayne Bravo or T20 leader Darren Sammy.
The WICB statement came in response to the BCCI saying it remained adamant in its pursuit of compensation.
“There has been a direct and disastrous impact to India,” said BCCI secretary Sanjay Patel. “The collateral damage to the BCCI and its stakeholders is irreparable.”
“We tried our level best to survive the series and I had to personally dash to Kochi before the first ODI to intervene and ensure that the match took place.
“Unfortunately, WICB chose to ignore the consequences at that stage and created an avoidable situation.”
