Binding External Arbitration Clause Samples

The Binding External Arbitration clause establishes that any disputes arising under the agreement will be resolved by an independent, third-party arbitrator whose decision is final and legally enforceable. In practice, this means that instead of going to court, the parties must submit their disagreement to an external arbitration body, which will conduct a hearing and issue a binding resolution. This clause ensures that conflicts are settled efficiently and privately, reducing litigation costs and providing a clear, predetermined process for dispute resolution.
Binding External Arbitration. In lieu of the option in Article 8(a), if within sixty (60) days of the initial notification, after such sixty (60) day period but before eighty (80) days from such initial notification of a dispute, the Seller (only) may elect to refer such dispute under this Agreement to a proceeding for binding arbitration to be conducted at an agreed location, or if the Parties cannot agree on a mutually agreeable location, in Dar es Salaam. Any such arbitration proceeding shall be conducted by a neutral arbitrator selected by the Parties. If the Parties cannot mutually agree on a neutral arbitrator, each Party shall appoint a single arbitrator trained in arbitration and not related to any Parties, to the financial interests of either Party, nor to the dispute, and these two arbitrators shall mutually agree on a third neutral arbitrator. The Seller, in electing to select binding external arbitration under this provision in lieu of the dispute resolution provision under Article 8(a), shall be responsible to reimburse the reasonable travel and per diem expenses of the Buyer to participate in this arbitration, if it is held outside of The United Republic of Tanzania. Once the Seller elects in writing as provided herein, with notice to the other Party and the Authority, to refer any dispute to binding arbitration, the decision of the arbitrator(s) shall be final and binding on the Parties without further resort for any Party to judicial or other remedies, provided however, that if binding arbitration has not reached a final decision within three-hundred sixty (360) days of the mutual referral of the dispute to binding arbitration, and such failure is not due to the lack of cooperation of a given Party, that Party may without penalty or forfeiture of any legal or equitable rights hereunder withdraw from such arbitration and seek other remedies at law or at equity consistent with this Agreement, including within twenty (20) days of such withdrawal either Party may invoke the dispute resolution provisions of Article 8(a).
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Binding External Arbitration. In lieu of the option in Article 8.2, if after sixty (60) days of the initial notification but before eighty (80) days of such initial notification, such dispute is not resolved to the mutual satisfaction of the Parties in accordance with Article 8.2, such dispute (including the validity of this Agreement) shall be finally settled by arbitration in accordance with the Arbitration Rules of the United Nations Commission on International Trade Law (the “UNCITRAL Rules”) as at present in force. Unless the parties agree differently, the following shall apply: (a) the number of arbitrators comprising the Tribunal shall be three (3); (b) the appointing authority according to article 6 in the UNCITRAL rules shall be [to be appointed by an agreement of the Parties]; (c) the Arbitration shall be conducted and an award shall be rendered in the English language; (d) the seat of arbitration shall be [Dar es Salaam] and (e) the venue for arbitration shall be [Dar es Salaam], unless Dar es Salaam becomes inaccessible due to a Force Majeure Event or any action of the Government of Tanzania makes it impossible to conduct arbitration in Dar es Salaam, in which case the venue for arbitration shall be [Port Louis, Mauritius]. The decision of the Tribunal shall be final and binding upon the Parties and shall not be subject to appeal.
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Related to Binding External Arbitration

  • Binding Dispute Resolution For any Claim subject to, but not resolved by, mediation pursuant to Article 15 of AIA Document A232–2019, the method of binding dispute resolution shall be as follows: [ ] Arbitration pursuant to Article 15 of AIA Document A232–2019. [ X ] Litigation in a court of competent jurisdiction. [ ] Other: (Specify) If the Owner and Contractor do not select a method of binding dispute resolution, or do not subsequently agree in writing to a binding dispute resolution method other than litigation, Claims will be resolved by litigation in a court of competent jurisdiction.

  • Dispute Resolution and Arbitration The following procedures shall be used in the resolution of disputes:

  • Governing Law; Arbitration This Agreement shall be governed and interpreted in accordance with the laws of the State of New York without giving effect to the conflicts of law principles thereof. Any dispute, controversy or claim (each, a “Dispute”) arising out of or relating to this Agreement, or the interpretation, breach, termination, validity or invalidity thereof, shall be referred to arbitration upon the demand of either party to the dispute with notice (the “Arbitration Notice”) to the other. The Dispute shall be settled by arbitration in Hong Kong by the Hong Kong International Arbitration Centre (the “HKIAC”) in accordance with the Hong Kong International Arbitration Centre Administered Arbitration Rules (the “HKIAC Rules”) in force at the time when the Arbitration Notice is submitted. The seat of arbitration shall be Hong Kong. There shall be three (3) arbitrators. The complainant and the respondent to such dispute shall each select one arbitrator within thirty (30) days after giving or receiving the demand for arbitration (the “Selection Period”). Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. The chairman of the HKIAC shall select the third arbitrator. If either party to the arbitration fails to appoint an arbitrator with the Selection Period, the relevant appointment shall be made by the chairman of the HKIAC. The arbitral proceedings shall be conducted in English. To the extent that the HKIAC Rules are in conflict with the provisions of this Section 5.2, including the provisions concerning the appointment of the arbitrators, this Section 5.2 shall prevail. The award of the arbitral tribunal shall be final and binding upon the parties thereto, and the prevailing party may apply to a court of competent jurisdiction for enforcement of such award. In the event of the arbitration of any Dispute pursuant to this Section, the losing party in such arbitration shall pay to the prevailing party all expenses and fees (including reasonable attorneys’ fees) incurred in connection with the arbitration of such Dispute, and the arbitration order, ruling or award shall contain a specific provision providing for such payment.

  • Mediation and Arbitration 27.1 The parties will use their best efforts to negotiate in good faith and settle any dispute that may arise out of or relate to this agreement or any breach thereof. If such dispute cannot be settled amicably, through ordinary negotiations by the parties, the dispute shall be referred to the senior representative nominated by the Managing Director or Managing Partner of each party, who will meet in good faith in order to resolve the dispute. If the dispute is not resolved as a result of such meeting, either party may, within 7 (seven) days of its conclusion, propose to the other in writing that structured negotiations be entered into with the assistance of a mediator. 27.2 If the parties are unable to agree on a mediator, or if the mediator agreed upon is unwilling or unable to act, any party may within 7 (seven) days from the date of the proposal to appoint a mediator, or within 7 (seven) days of notice to any party that is unwilling or unable to act, apply to the Arbitration Foundation of South Africa (AFSA) to appoint a mediator. 27.3 The parties will, within 7 (seven) days of the appointment of the mediator, meet with him in order to agree on a program for the exchange of any information and the structure to be adopted for the negotiation to be held in Pretoria or Johannesburg. 27.4 All negotiations connected with the dispute will be conducted in complete confidentiality and the parties undertake not to divulge details of such negotiations, except to their professional advisors, who will also be subject to such confidentiality and will be without prejudice to the rights of the parties in future proceedings. 27.5 If the parties accept the mediator’s recommendations, or otherwise reach agreement on the resolution of the dispute, such agreement shall be reduced to writing and once, it is signed by the duly authorised representatives, shall be final and binding on the parties. 27.6 Failing agreement, any of the parties may invite the mediator to provide a non-binding, but informative opinion in writing as to the merits of the dispute and the rights and obligations of the parties. Such opinion will be provided on a without prejudice basis and will be private and confidential to the parties and may not be used in evidence in any proceedings commenced pursuant to the terms of this agreement, without the prior written consent of all the parties. 27.7 Should the parties fail to reach agreement in the structured negotiations within 30 (thirty) days of the mediator being appointed, such a failure shall be without prejudice to the right of any party, subsequently to refer any dispute or difference to arbitration, but the parties agree that, before resorting to arbitration, the structured negotiations in accordance with this clause shall have taken place. 27.8 That arbitration shall be held – 27.8.1 with only the parties and their representatives including their legal representatives, present thereat; 27.

  • Binding Arbitration If the Parties are unable to resolve a Dispute through informal negotiations, the Dispute (except those Disputes expressly excluded below) will be finally and exclusively resolved by binding arbitration. YOU UNDERSTAND THAT WITHOUT THIS PROVISION, YOU WOULD HAVE THE RIGHT TO SUE IN COURT AND HAVE A JURY TRIAL. The arbitration shall be commenced and conducted under the Commercial Arbitration Rules of the American Arbitration Association ("AAA") and, where appropriate, the AAA’s Supplementary Procedures for Consumer Related Disputes ("AAA Consumer Rules"), both of which are available at the AAA website ▇▇▇.▇▇▇.▇▇▇. Your arbitration fees and your share of arbitrator compensation shall be governed by the AAA Consumer Rules and, where appropriate, limited by the AAA Consumer Rules. [If such costs are determined to by the arbitrator to be excessive, we will pay all arbitration fees and expenses.] The arbitration may be conducted in person, through the submission of documents, by phone, or online. The arbitrator will make a decision in writing, but need not provide a statement of reasons unless requested by either Party. The arbitrator must follow applicable law, and any award may be challenged if the arbitrator fails to do so. Except where otherwise required by the applicable AAA rules or applicable law, the arbitration will take place in [name of county] County, [name of state]. Except as otherwise provided herein, the Parties may litigate in court to compel arbitration, stay proceedings pending arbitration, or to confirm, modify, vacate, or enter judgment on the award entered by the arbitrator. If for any reason, a Dispute proceeds in court rather than arbitration, the Dispute shall be commenced or prosecuted in the state and federal courts located in [name of county] County, [name of state], and the Parties hereby consent to, and waive all defenses of lack of personal jurisdiction, and forum non conveniens with respect to venue and jurisdiction in such state and federal courts. Application of the United Nations Convention on Contracts for the International Sale of Goods and the the Uniform Computer Information Transaction Act (UCITA) are excluded from these Terms and Conditions. In no event shall any Dispute brought by either Party related in any way to the Site be commenced more than years after the cause of action arose. If this provision is found to be illegal or unenforceable, then neither Party will elect to arbitrate any Dispute falling within that portion of this provision found to be illegal or unenforceable and such Dispute shall be decided by a court of competent jurisdiction within the courts listed for jurisdiction above, and the Parties agree to submit to the personal jurisdiction of that court.