CEDRAC Rules >CEDRAC Model Clauses

CEDRAC Model Clauses

Model arbitration clause for contracts

Any dispute, controversy or claim arising out of or relating to this contract, including but not limited to the formation, performance, breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the CEDRAC Arbitration Rules.

Note. Parties should consider adding:

    (a) The appointing authority shall be ... [name of institution or person];
    (b) The number of arbitrators shall be ... [one or three];
    (c) The place of arbitration shall be ... [city and country];
    (d) The language to be used in the arbitral proceedings shall be ... .

Example of arbitration clause for contracts

Any dispute, controversy or claim arising out of or relating to this contract, including but not limited to the formation, performance, breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the CEDRAC Arbitration Rules. The parties further agree that:

    (a) The appointing authority shall be the CEDRAC Court.
    (b) The number of arbitrators shall be three.
    (c) The place of arbitration shall be Nicosia, Cyprus.
    (d) The language to be used in the arbitral proceedings shall be English.

Possible waiver statement

Note. If the parties wish to exclude recourse against the arbitral award that may be available under the applicable law, they may consider adding a provision to that effect as suggested below, considering, however, that the effectiveness and conditions of such an exclusion depend on the applicable law.

Waiver

The parties hereby waive their right to any form of recourse against an award to any court or other competent authority, insofar as such waiver can validly be made under the applicable law.