Arbitration clause recommended by the Chamber of Commerce and Industry of Romania to be included in commercial contracts

- model -

The following clause shall be added in the agreement concluded between the parties:

„ Any dispute under or related to this agreement, including with respect to the execution, performance or termination hereof, shall be settled by means of arbitration, by the Court of International Commercial Arbitration of the Romanian Chamber of Commerce and Industry, in compliance with the Rules of arbitration procedure of the Court of International Commercial Arbitration, in force, published in the Official Monitor of Romania, Part. I."