I. Модуль профессионального общения Учебно-профессиональное общение Purchase and Sale Agreement
Study the following clauses and do the tasks that follow
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7.6. Study the following clauses and do the tasks that follow:
a)Arbitration. 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. b) Arbitration 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. The arbitration shall be conducted on a confidential basis pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Any decision or award as a result of any such arbitration proceeding shall be in writing and shall provide an explanation for all conclusions of law and fact and shall include the assessment of costs, expenses, and reasonable attorneys' fees. Any such arbitration shall be conducted by an arbitrator experienced in [insert industry or legal experience required for arbitrator] and shall include a written record of the arbitration hearing. The parties reserve the right to object to any individual who shall be employed by or affiliated with a competing organization or entity. An award of arbitration may be confirmed in a court of competent jurisdiction. c) Arbitration 1. All disputes that may arise in connection with the present Contract will be settled as far as possible by means of negotiations between the Parties. If the Parties do not come to an ageement, the matter is to be submitted for settlement to Arbitration, with its seat in Stockholm, Sweden. 2. The Party which wishes to refer the dispute to Arbitration shall notify the other Party by a registered letter stating there the name and the address of the arbitrator as well as the subject of the dispute, date and number of the Contract. Within 30 days of receipt of the above letter the other Party shall choose its arbitrator, and inform the first Party of it by a registered letter stating the name and address of the arbitrator chosen. 3. If the Party notified of the dispute being submitted to arbitration fails to choose its arbitrator, the latter will be appointed within 30 days by the President of the Chamber of Commerce in Stockholm, Sweden. 4. Within 30 days the arbitrators shall choose an Umpire. If the arbitrators fail to agree upon the choice of the Umpire, the latter will be appointed by the President of the Chamber of Commerce in Stockholm, Sweden. Download 0.95 Mb. Share with your friends:
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