Model Clause: The Arbitration Court of the Estonian Chamber of Commerce and Industry

Recommended arbitration clauses:

"All disputes arising out of or in connection with the present contract shall be finally settled by arbitration in accordance with the Rules of the Arbitration Court of the Estonian Chamber of Commerce and Industry"

1. The Parties shall attempt to resolve all disputes relating to this Agreement by negotiations.

2. If the Parties fail to resolve the disputes relating to this Agreement through negotiations, the dispute shall be conclusively resolved in the Arbitration Court of the Chamber of Commerce and Industry of Estonia in Tallinn (hereinafter: the Arbitration Court) in accordance with the Rules of the Arbitration Court. The dispute shall be resolved on the basis of the laws of Estonia. The language of the Arbitration Court shall be Estonian.

3. The Arbitration Court shall consist of 3 (three) members. Each Party shall appoint one arbitrator within the time period prescribed by the Council of the Arbitration Court of the Chamber of Commerce and Industry of Estonia. Each Party shall ask the arbitrator chosen by him to appoint a third arbitrator together with the arbitrator chosen by the other Party, who shall be the chairman of the Arbitration Court in the resolution of the dispute. If the arbitrators appointed by the Parties fail to choose a third arbitrator within the time period prescribed by the Council of the Arbitration Court of the Chamber of Commerce and Industry of Estonia, the third arbitrator who shall also be the chairman of the Arbitration Court shall be appointed by the Council of the Arbitration Court of the Chamber of Commerce and Industry. If the Parties fail to form the Arbitration Court in accordance with the provisions of this Article and the Rules of the Arbitration Court, the Arbitration Court shall be formed by the Council of the Chamber of Commerce and Industry of Estonia.

4. The award of the Arbitration Court shall be final and binding upon the Parties.