Recommended Arbitration Clauses

Arbitration Clause

Any dispute, controversy or claim arising out of or relating to this contract, including any question regarding its existence, validity or termination and any non-contractual claims, shall be referred to and finally resolved by arbitration in accordance with the Arbitration Rules of the Cyprus Arbitration and Mediation Centre, for the time being in force, which Rules are deemed to be incorporated by reference into this clause. The arbitration shall be administered by Cyprus Arbitration and Mediation Centre (“CAMC”). The seat, or legal place of arbitration shall be [City of Cyprus]. The appointing authority shall be the Board of Directors of CAMC. The number of arbitrators shall be [one/three]. The language to be used in the arbitral proceedings shall be [________________]. The governing law of the contract shall be the substantive law of [________________].

Arbitration and Mediation Clause

In the event of a dispute, controversy or claim arising out of or relating to this contract, including any question regarding its existence, validity or termination and any non-contractual claims, the parties agree to try in good faith to settle the dispute by mediation within [         ] days in accordance with the Mediation Rules of the Cyprus Arbitration and Mediation Centre, for the time being in force, which Rules are deemed to be incorporated by reference into this clause. If the dispute, controversy or claim is not settled by mediation within the aforementioned timeframe, or such further period as the parties shall agree in writing, the dispute, controversy or claim shall be referred to and finally resolved by arbitration under the Arbitration Rules of the Cyprus Arbitration and Mediation Centre, for the time being in force, which Rules are deemed to be incorporated by reference into this clause.

The language to be used in the mediation and in the arbitration shall be [___].

The governing law of the contract shall be the substantive law of [__].

In any arbitration commenced pursuant to this clause,