Common use of of the Rules Clause in Contracts

of the Rules. The Claimants-appointed arbitrator and the Respondents-appointed arbitrator shall then choose the third arbitrator who will act as presiding arbitrator of the tribunal. The place of arbitration shall be Hong Kong, and the arbitration shall be administered by HKIAC. The governing law of the arbitration proceedings shall be the laws of Hong Kong. The language to be used in the arbitral proceedings shall be English. By agreeing to arbitration pursuant to this clause, the parties waive irrevocably their right to any form of appeal, review or recourse to any state court or other judicial authority, insofar as such waiver may be validly made. The award is given by a majority decision. If there be no majority, the award shall be made by the Chairman of the arbitral tribunal alone.

of the Rules. The Claimantsclaimants-appointed arbitrator and the Respondentsrespondents-appointed arbitrator shall then choose the third arbitrator who will act as presiding arbitrator chairman of the arbitral tribunal. The place seat of arbitration shall be Hong Kong, and the arbitration shall be administered by HKIAC. The governing law of the arbitration proceedings shall be the laws of Hong Kong. The language to be used in the arbitral proceedings shall be English. By agreeing to arbitration pursuant to this clauseClause 10.13.3, the parties irrevocably waive irrevocably their right to any form of appeal, review or recourse to any state court or other judicial authority, insofar as such waiver may be validly mademade and to the fullest extent permitted by applicable Laws. The award is shall be given by a majority decision. If there be no majority, the award shall be made by the Chairman chairman of the arbitral tribunal alone.