"The parties agree that all disputes arising from or in connection with the present contract, its breach, termination, validity or interpretation, shall be exclusively decided by the Court of Arbitration attached to the Hungarian Chamber of Commerce and Industry, Budapest in accordance with its own Rules of Procedure."

Parties may wish to consider adding:

"The number of arbitrators shall be (one or three). The applicable law shall be .

The language(s) to be used in the arbitral proceedings shall be ."