Gordon Taylor has indicated the striker does not have a 'cast-iron' buy-out clause in his deal, meaning he does not have to be sold for €46 million
Suarez believes he has an agreement with the club which would allow him to join a club participating in the Champions League, if they receive a bid in excess of €46 million.
The Anfield club have rejected two offers from Arsenal and Taylor says the Reds have only agreed to negotiate with clubs after any such offer is made.
Taylor told the Press Association: "If you are going to have a supposed buy-out clause it should be that, but it is different as it says if there is no qualification for the Champions League [by Liverpool] and if there is a minimum offer of £40m then the parties will get around the table to discuss things but it does not say the club has to sell.
"It quite clearly states £40m is a minimum offer for discussions, but it becomes really difficult with such clauses. There is a 'good faith' clause in relation to serious discussions but I can't say it is cast-iron buy-out clause.
"Luis is one of our members and we want to be supportive, however, he may well have thought such an offer would trigger a move."
Taylor has also indicated the PFA will work with Suarez and Liverpool in an attempt to resolve the issue.
He added: "At the moment it is certainly festering and I don't think it is a good situation for the player or the clubs involved.
"It is not edifying and that is why I feel we had to do our best to get round the table and see if there are grounds for consideration for the move but it [the clause] is not specific and 100 per cent certain.
"We are in touch with both parties to try to see if some resolution can be achieved that is satisfactory to both sides."