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DRAFTING AN ARBITRATION CLAUSE A CHECKLIST By Gary H. Barnes Downs Jacklin & Martin This article discusses arbitration between two US firms in the US. It gives useful insight into drafting international

How to fill out drafting an arbitration clause

How to fill out drafting an arbitration clause

1. First, start by identifying the parties involved in the arbitration clause.
2. Next, determine the scope and purpose of the arbitration clause.
3. Specify the governing law and jurisdiction for the arbitration process.
4. Clearly outline the procedure for initiating the arbitration, including any prerequisites or notifications.
5. Include provisions for selecting the arbitrator or arbitration panel.
6. Establish the rules and procedures that will govern the arbitration process.
7. Define the language and location for conducting the arbitration hearings.
8. Specify the timeframe for completing the arbitration process.
9. Include provisions for confidentiality and the admissibility of evidence.
10. Address the remedies and awards that can be granted through arbitration.
11. Finally, review and edit the arbitration clause to ensure clarity and accuracy before finalizing it.

Who needs drafting an arbitration clause?

1. Companies and businesses that enter into contracts with other parties.
2. Individuals or entities involved in international business transactions.
3. Organizations seeking an alternative dispute resolution method.
4. Parties looking to avoid costly and time-consuming litigation.
5. Companies operating in industries prone to disputes and conflicts.
6. Entities involved in construction or real estate contracts.
7. Organizations operating across multiple jurisdictions.
8. Parties seeking a more private and confidential dispute resolution process.

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What is drafting an arbitration clause?

Drafting an arbitration clause involves creating a section in a contract that outlines the process for resolving disputes through arbitration rather than through the court system.

Who is required to file drafting an arbitration clause?

Parties entering into a contract where disputes may arise are required to include an arbitration clause in the contract.

How to fill out drafting an arbitration clause?

When filling out a drafting an arbitration clause, parties should carefully outline the rules and procedures that will govern the arbitration process in case a dispute arises.

What is the purpose of drafting an arbitration clause?

The purpose of drafting an arbitration clause is to provide a method for resolving disputes outside of the court system, which can be faster, more cost-effective, and confidential.

What information must be reported on drafting an arbitration clause?

A drafting an arbitration clause should include details about the arbitration process, such as the appointment of an arbitrator, the governing law, and the location of the arbitration.