An example of a clause in a contract providing for Arbitration in a thrid country

Any dispute difference arising out of or in connection with the present contract is to be settled, without recourse to Courts of Law, by an Arbitration Tribunal in Stockholm, Sweden.

The Arbitration Tribunal shall consist of two Arbitrators and an Umpire.

The party giving notice of arbitration shall notify the other party by registered letter stating the question at the issue and giving the name and address of its Arbitrator. Within … days of receipt of such a letter, the other party shall inform the first party, also by registered letter, of the name and address of its Arbitrator, and if it does not do so, its Arbitrator shall be appointed by the President of the Chamber of Commerce in Stockholm at the request of the party giving notice of arbitration. Hence, the appointment is left to the discretion of the President.

The two arbitrators are to choose an Umpire within… days of the appointment of the second Arbitrator. Should the Arbitrators fail to agree upon an Umpire, the Umpire shall be appointed by the President of the Chamber of Commerce in Stockholm, Sweden, within … days after receipt in Stockholm of such an application made by either of the parties.

The award shall be issued on the basis of the present contract and legal regulations to be used in accordance with the principles of international law.

The award shall state the reasons for the decision, indicate the composition of the Arbitration Tribunal, the date and place of the decision and the allocation of costs and expenses of the arbitration between the parties.

Both parties shall accept the award of the Arbitration Tribunal as final and binding upon them.

 

IV. Answer the following questions.

1. What is claim?

2. In what case may a claim arise?

3. In what case are the parties to the contract entitled to reject a claim?

4. What is a Letter of Complaint?

5. What is an unjustified complaint?

6. What does an amicable settlement of the claim imply?

7. What are Points of Claim?

8. What documents are needed for filing Points of Claim with Arbitration Court?

9. Which party should appoint an Arbitrator and an Umpire?

10. Why are the cases entrusted to a sole Arbitration?

11. Who covers the expenses of the arbitration proceedings?

12. Can the parties to a contract apply to Courts of Law?

13. Do the parties to the contract have the right to submit the matter to the Court of Appeal?

 

V. Study the notes and writing patterns.

NOTES

The Arbitration vs arbitration - написание с большой буквы и, как правило, с определенным артиклем the Arbitration означает судебную инстанцию, проводящую арбитраж, например Арбитражный суд.

Слово arbitration подразумевает обычно процесс арбитражного производства.

 

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