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Model Clause: Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry

  • Parties in the agreement or the contract wishing their disputes to be referred to the Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry are recommended to include the following arbitration clause into their contract:

    "Any dispute arising out of the present contract or in connection with it is to be referred for consideration and final settlement to the Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry. The parties agree that as to the consideration and settlement of the dispute the Rules of the Maritime Arbitration Commission at the Ukrainian Chamber of Commerce and Industry shall apply."

    The parties are also reminded that they can avoid difficulties and extra expenses if they correctly specify substantive law which shall regulate their contract. The parties can also, at their wish, specify the number of the arbitrators, place and language of proceedings.

    The following clauses can be used:

    "The present agreement shall be regulated by the substantive law of ________________________". /name of the country/

    "The Maritime Arbitration Commission shall be composed of ______________________________" /a sole or three arbitrators/

    "Place of the Maritime Arbitration Commission meeting shall be _______________________" /name of the city/

    "Language of the Maritime Arbitration Commission proceedings shall be ______________________________" /Ukrainian, Russian or other/