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Have an Insight into Fast Track and Model Arbitration Clauses

Model Arbitration clauses are adequate to ensure an efficient execution and smooth functioning of arbitral proceeding for most contracts.

Some of the model clauses for the world’s major international arbitration institutions, intended for “full-scale” international arbitrations are given below –

For international contracts concerning goods or services

With a value of less than USD 500,000, Aceris recommends consideration of a clause calling for “fast-track arbitration,” which provides for accelerated arbitration proceedings while also reducing costs to a minimum. For small- and mid-sized contracts involving European companies, they recommend considering the use of one of the two following fast-track arbitration clauses, which are based on model clauses suggested by the Swiss Chambers’ Arbitration Institution and the Stockholm Chamber of Commerce.

For small- to medium-sized contracts related to Europe

In case any dispute, controversy, or claim arising out of, or in relation to, this contract including the validity, invalidity, breach, or termination thereof, shall be resolved by arbitration in accordance with the Expedited Procedure of the Swiss Rules of International Arbitration of the Swiss Chambers’ Arbitration Institution in force on the date on which the Notice of Arbitration is submitted in accordance with these Rules. The number of arbitrators shall be one. The seat of the arbitration shall be [Paris/London/Geneva/Stockholm] and the procedural law applicable to this arbitration agreement shall be the law of this seat. The arbitral proceedings shall be conducted in [select language]. This contract shall be governed by the laws of [name law governing contract].

 For larger disputes

One may also consider the following arbitration clause providing for expedited dispute resolution under the SCC’s expedited arbitration rules, which are clear and well-drafted:

Any dispute, controversy or claim arising out of or in connection with this contract, or the breach, termination or invalidity thereof, shall be finally settled by arbitration in accordance with the Rules for Expedited Arbitrations of the Arbitration Institute of the Stockholm Chamber of Commerce. The seat of arbitration shall be [Paris/London/Geneva/Stockholm] and the procedural law applicable to this arbitration agreement shall be the law of this seat. The language to be used in the arbitral proceedings shall be [select]. This contract shall be governed by the laws of [name law governing contract].

These model clauses are general and may not be appropriate for all disputes.

Do you want to know more about fast track and Model Arbitration Clauses in France? If so, then get in touch with Aceris Law’s France arbitration lawyers desk.

The Aceris Law’s France arbitration lawyer desk has access to all French jurisprudence and doctrine, while speaking French and English, which are languages commonly used in disputes concerning France. They have significant prior experience with arbitrations involving France. Their dedicated team of lawyers at Aceris Law are specialized international arbitration law firm, which accompanies clients involved in arbitrations concerning France, i.e., where French law applies, a contract is executed in France, the dispute is brought by or against a party in France, or the French State or a French State entity is involved. For more information, visit https://www.acerislaw.com/



This post first appeared on Three Things That Makes An International Arbitration Law Firm Reliable, please read the originial post: here

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Have an Insight into Fast Track and Model Arbitration Clauses

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