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Model Clause: International Commercial Arbitration Court of the Chamber of Commerce and Industry of the Republic of Moldova

  • Model Arbitration Clause recommended by the Chamber of Commerce and Industry of the Republic of Moldova to be included in contracts

    "All disputes arising out of or in connection with this Contract, or regarding its conclusion, execution or termination, shall be settled by the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of the Republic of Moldova, in accordance with the Regulations of this Court. The arbitral award shall be final and binding." 

    The Parties may also choose to provide for the following: 

    1. "The arbitral tribunal shall be composed of a sole arbitrator, appointed upon joint agreement of the parties or by the president of the Court of International Commercial Arbitration attached to the Chamber of Commerce and Industry of the Republic of Moldova, where parties fail to reach such an agreement." 

    or 

    "The Arbitral Tribunal shall be composed of three arbitrators, one arbitrator appointed by each of party and one presiding arbitrator designated by the arbitrators". 

    1. "The Arbitral Tribunal shall settle the dispute in law, and the Republic of Moldova law shall be applicable."