Sample Clauses Providing for Ad Hoc Arbitration. “Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be settled by arbitration in ance with the UNCITRAL Arbitration Rules as at present in force.”
In entering into an arbitration agreement, the parties agree to refer their dispute to a neutral tribunal to decide their rights and obligations. Although sometimes described as a form of alternative dispute resolution, arbitration is not the same as mediation or conciliation.
The Arbitration Agreement All and any disputes or differences arising out of or in connection with this Agreement, or the breach, termination or invalidity thereof shall be finally settled by arbitration. In ance with the UNCITRAL Arbitration Rules. The number of arbitrators shall be one/three.
Arbitration clauses are frequently paired with class action waivers, which prevent contracting parties to file class action lawsuits against each other. In the United States, arbitration clauses also often include a provision which requires parties to waive their rights to a jury trial.
Your letter of arbitration should be concise, professional, and factual. Follow the standard business letter format, including your name and contact information at the top. Ensure that your writing is clear, and avoid using jargon or technical terms that may not be familiar to the reader.
UNCITRAL2 recommended arbitration clause: Any dispute, controversy or claim arising out of or relating to this agreement, or the breach, termination or invalidity thereof, shall be settled by arbitration in ance with the UNCITRAL Arbitration Rules as at present in force.
Outline a concise factual background and then move on to a discussion of the issues at the heart of the case. Your arguments should flow easily from the relevant facts and applicable law. And, by all means, avoid exaggeration of the strengths of your case as well as disparagement of the opposing side.
Drafting the “perfect” arbitration agreement Clear and precise language. Clarity and brevity are key to avoiding an unenforceable arbitration clause and the costs and delays that follow. Scope. Seat of arbitration. Governing law. Arbitral Rules. Language. Arbitrators. Other common issues.
Top 10 tips for drafting arbitration agreements Introduction. Scope of the arbitration agreement. Seat of the arbitration. Governing law of the arbitration agreement. Choice of rules. Language. Number and appointment of arbitrators. Specifying arbitrator characteristics.
A claimant will typically start arbitration by sending a document known as a “request for arbitration” or a “notice to arbitrate” to its opponent.