I. Модуль профессионального общения Учебно-профессиональное общение Purchase and Sale Agreement
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- Who Can Arbitrate Disputes
6.5.3. Complete the sentences using the words in the list below: expenses; liable; conform; replacement; eliminated; under; in full conformity 1. If the defects cannot be ..., the Buyer has the right to reject the defective equipment. 2. The equipment has been manufactured ... with the conditions of the Contract. 3. The Company shall not be ... for any failure in the performance of any of its obligations ... the Contract caused by factors outside its control. 4. The goods do not ... to the specification of the Contract. 5. All the transport charges and other ... connected with the return or/and ... of the defective equipment are to be borne by the Seller. Text 7 7.1. Study the following words and word combinations.
7.2. Read the text and do the tasks that follow. Arbitration Clauses in ContractsArbitration is an out-of-court proceeding in which a neutral third party called an arbitrator hears evidence and then makes a binding decision. Arbitration is the most commonly used method of alternative dispute resolution (ADR), and you'll find an arbitration clause in the fine print of all kinds of contracts these days. Binding or Nonbinding Arbitration Arbitration can be binding (which means the participants must follow the arbitrator's decision and courts will enforce it) or nonbinding (meaning either party is free to reject the arbitrator's decision and take the dispute to court, as if the arbitration had never taken place). Binding arbitration is more common. Who Can Arbitrate Disputes?Arbitration can be voluntary (the parties agree to do it) or mandatory (required by law). Most contract arbitration occurs because the parties included an arbitration clause requiring them to arbitrate any disputes "arising under or related to" the contract. If a provision like this isn't included in the contract, the parties can still arbitrate if they both agree to it (although it's tough to reach an agreement to arbitrate once a dispute has arisen). Advantages and Disadvantages of Arbitration For simple contract disputes in which the matter can be heard in one day, arbitration is usually a good choice. Arbitration is usually faster, simpler, more efficient, and more flexible for scheduling than litigation. Also, it avoids some of the hostility of courtroom disputes, perhaps because it's a private proceeding versus the public drama of the courtroom. And if the subject of the dispute is technical – for example, about a patent – the parties can select an arbitrator who has technical knowledge in that field, rather than a judge who may not be familiar with the issues. However, unlike a court ruling, a binding arbitration ruling can't be appealed. It can be set aside only if a party can prove that the arbitrator was biased or that the arbitrator's decision violated public policy. Unlike a court case, there is no automatic right to discovery (the process by which the parties have to disclose information about their cases to the other party). The costs of arbitration can be significant; in some cases, they may even exceed the costs of litigation. Download 0.95 Mb. Share with your friends:
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