The following clause shall be added in the agreement concluded between the parties:
STANDARD ARBITRATION CLAUSE
“Any dispute arising out of or in connection with the present contract, including with respect to its conclusion, nullity, interpretation, performance or termination thereof shall be resolved by final arbitration organized by the Court of International Commercial Arbitration of the Chamber of Commerce and Industry of Romania, in accordance with its Arbitration Rules. The award shall be final, binding and enforceable”.
“The arbitral tribunal shall consist of [… to insert the option of the parties for three arbitrators/sole arbitrator and the method for their appointment]”.
“The seat of arbitration shall be [ to insert the country/ city…]”.
“The language of arbitration shall be [… to insert the language chosen by the parties]”.
“The dispute shall be governed by the substantive law of [… to insert ]”.
“The arbitral tribunal shall decide the dispute ex æquo et bono or as amiable compositeur”.