This form is an Arbitration Reference Clause usable to compel arbitration in contracts where licensing, patents, or commercial trade secrets are a factor.
Virgin Islands Arbitration Reference Clause
State:
Multi-State
Control #:
US-TS10042A
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Arbitration Reference Clause?
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FAQ
1. An arbitration clause forms the basis of the consent between investors and States that certain disputes are to be determined by arbitration. This consent is what gives rise to the jurisdiction of the arbitral tribunal. See also Jurisdiction of arbitral tribunals.
"Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the LCIA Rules, which Rules are deemed to be incorporated by reference into this clause.
BVI's arbitration laws are impartial, efficient and designed with modern international arbitration in mind and afford parties a speedy dispute resolution mechanism that is enforceable.
All claims and disputes arising under or relating to this Agreement are to be settled by binding arbitration in the state of [insert state in which parties agree to arbitrate] or another location mutually agreeable to the parties. An award of arbitration may be confirmed in a court of competent jurisdiction.
All disputes arising out of or in connection with the present contract shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one or more arbitrators appointed in ance with the said Rules. Parties are free to adapt the clause to their particular circumstances.
Simply put, the arbitration clause requires that the two parties to an agreement will go through arbitration rather than either party initiating a lawsuit if a dispute arises.
To find your arbitration clause, read the fine print, look for dispute resolution key terms, and utilize the CFPB's credit card agreement database. If you take the time to thoroughly review your credit card agreement, there is a good chance you will find a mandatory binding arbitration clause.
An arbitration clause is a contract clause that binds signers to handle all disputes with a company through arbitration instead of going through the litigation process. Most importantly, it helps prevent class-action lawsuits.
