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The document is a Commercial Arbitration Agreement between two corporations, ABC, Inc. and XYZ, Inc., outlining the procedures for resolving disputes through negotiation, mediation, and binding arbitration. It details the steps for informal negotiation, the mediation process if negotiations fail, and the arbitration process to be followed if disputes remain unresolved. The agreement emphasizes good faith efforts in dispute resolution and establishes guidelines for initiating arbitration, appointing arbitrators, and handling costs. It also includes provisions on severability, waiver, modification of the agreement, and compliance with laws.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How do you write an arbitration statement?

Much like the opening statement in a trial, your arbitration statement should lay out what the evidence the written material will show regarding the proper credit on the project. The Arbitration Statement is not established fact, just your assessment of the material.

What is an example of a good arbitration clause?

A dispute having arisen between the parties concerning [ ], the parties hereby agree that the dispute shall be referred to and finally resolved by arbitration under the LCIA Rules. The number of arbitrators shall be [one/three]. The seat, or legal place, of arbitration shall be [City and/or Country].

How do you write an arbitration agreement?

The Scope of the Clause. This section of the clause is critical; it sets the boundaries for which disputes the tribunal is authorised to determine. Choice of Rules. The Number of Arbitrators. Appointing Authority. Choice of Venue. The language of the proceedings. Finality. Exclusion of the right of appeal.

Do arbitration agreements hold up in court?

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.