MODEL ARBITRATION CLAUSE

"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 accordance with the AIAC Arbitration Rules."


Recommended additions:


• The seat of arbitration shall be [...].

• The language to be used in the arbitral proceedings shall be [...].

• This contract shall be governed by the substantive law of [...].

• Before referring the dispute to arbitration, the parties shall seek an amicable settlement of that dispute by mediation in accordance with the AIAC Mediation Rules as in force on the date of the commencement of mediation.


MODEL SUBMISSION AGREEMENT


Parties wishing to substitute an existing arbitration clause for one referring the dispute to arbitration under the AIAC Arbitration Rules may adopt the following form of agreement:


"The parties hereby agree that the dispute arising out of the contract dated _____________ shall be settled by arbitration under the AIAC Arbitration Rules."


This form may also be used where a contract does not contain an arbitration clause.