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