Model Clause: Arbitration Court attached to the Economic Chamber and Agricultural Chamber of the Czech Republic

Recommended word of arbitration clauses in contracts:

"All disputes arising from this contract and in connection with it shall be finally decided in arbitration proceedings before the Arbitration Court attached to the Economic Chamber of the Czech Republic and Agricultural Chamber of the Czech Republic in Prague (or in a court branch)

a) by three arbitrators appointed in accordance with its Rules."

b) by one arbitrator appointed in accordance with its Rules."

c) by one or three arbitrator(s) appointed in accordance with its Rules on the understanding that the arbitration proceedings shall be held on hand of written evidence only without oral hearings"

d) by one or three arbitrator(s) appointed in accordance with its Rules. Both parties have agreed that the arbitral award shall be rendered without reasons being given for the award in writing."

e) by an arbitration tribunal consisting of three members to be appointed in accordance with its Rules. Both parties do confer the power on arbitrators to decide the dispute  e x  a e q u o  e t  b o n o ."

 

Recommended wording of an addendum with an arbitration clause to existing contracts:

"The contracting parties have agreed upon an Addendum No ........ to the contract No ............ dated ........... reading as follows :

(to indicate the agreed wording of the arbitration clause - see above)

In ................. on ...............

 

..........................................     ..........................................

signatures of the representatives of contracting partics

 

Recommended lace of the arbitration clause in a contract.

It is recommended to place the arbitration clause into the introductory or final provisions of the relevant contract of property nature as one of the respective provisions.