Compromise
- model -

This deed shall be concluded between the parties in case the agreement fails to contain the compromissory clause.

 

“The undersigned:

1. ………………………………………………………………………… (name/denomination; names of the legal representatives; domicile/registered office; registration number with the Trade Register; phone, telex, fax number), hereinafter referred to as party 1, and

2. (same data), hereinafter referred to as party 2, find the existence of a dispute between us, under agreement no. …..... dated …………., dispute contemplating:

Party 1 claims that …………………….. (brief presentation of the claims)

Party 2 claims that ……………………... (brief presentation of the claims). The undersigned agree regarding the settlement of this dispute by arbitration, by the Court of International Commercial Arbitration of the Romanian Chamber of Commerce and Industry, in compliance with the Court of Arbitration Rules, the Court procedural rules, art. 4 of the European Convention on international commercial arbitration signed at Geneva, on April 21 st, 1961.

 

Executed in duplicate, in…………………, this day, …………………………

Signature of party 1*,	Signature of party 2*, ”
……………………………	……………………………

 

* in case of legal entities, the signature shall be accompanied by the affixed stamp.