Common use of Initiation of Arbitration Proceedings Clause in Contracts

Initiation of Arbitration Proceedings. (a) If either Party wishes to have any matter under this Agreement arbitrated in accordance with the provisions of this Agreement, it shall give notice to the other Party specifying particulars of the matter or matters in dispute and proposing the name of the person it wishes to be the single arbitrator. Within five days after receipt of such notice, the other Party shall give notice to the first Party advising whether such Party accepts the arbitrator proposed by the first Party. If such notice is not given within such five day period, the other Party shall be deemed to have accepted the arbitrator proposed by the first Party. If the Parties do not agree upon a single arbitrator within such five day period such arbitrator shall be chosen by ADR ▇▇▇▇▇▇▇▇ Inc., Toronto, Ontario at the written request of either Party. (b) The individual selected as Arbitrator shall be qualified by education and experience to decide the matter in dispute. The Arbitrator shall be at arm’s length from both Parties and shall not be a member of the audit or legal firm or firms who advise either Party or a person who is otherwise regularly retained by either of the Parties. (c) The costs charged by the Arbitrator selected shall be shared equally by the parties to the Arbitration on an interim basis subject to a final allocation of the costs of the Arbitration by the Arbitrator.

Initiation of Arbitration Proceedings. (a) If either Party wishes to have any matter under this Agreement arbitrated in accordance with the provisions of this Agreement, it shall give notice to the other Party specifying particulars of the matter or matters in dispute and proposing the name of the person it wishes to be the single arbitrator. Within five days after receipt of such notice, the other Party shall give notice to the first Party advising whether such Party accepts the arbitrator proposed by the first Party. If such notice is not given within such five day period, the other Party shall be deemed to have accepted the arbitrator proposed by the first Party. If the Parties do not agree upon a single arbitrator within such five day period such arbitrator shall be chosen by ADR ▇▇▇▇▇▇▇▇ Inc., Toronto, Ontario at the written request of either Party. (b) The individual selected as Arbitrator arbitrator (the “Arbitrator”) shall be qualified by education and experience to decide the matter in dispute. The Arbitrator shall be at arm’s length from both Parties and shall not be a member of the audit or legal firm or firms who advise either Party or a person who is otherwise regularly retained by either of the Parties. (c) The costs charged by the Arbitrator selected shall be shared equally by the parties to the Arbitration arbitration on an interim basis subject to a final allocation of the costs of the Arbitration arbitration by the Arbitrator.