We use this Partner Check in our classroom when I have my students reading their fluency passage to a classmate. We practice giving feedback at my guided reading table with my guidance and support. I use this to support my students in their providing more constructive feedback than a simple good job. They listen to all of the components of reading fluency this way and don't focus solely on the amount of words read. I find it also keeps them from racing each other in their reading.
Please use as works best in your classroom. I have shown this to parents at conferences as well when communicating their child's reading fluency.