FedArb Model Clauses
FedArb recommends adding the following information to the arbitration clause:
Where the arbitration will take place, e.g.: "The Arbitration will take place in New York, NY."
The choice of law, e.g.: "The Arbitration will be governed by the law of the state of New York."
The number of arbitrators, e.g. "The parties will select one arbitrator, and in the case of failure to agree, will proceed as per the FedArb Rules for selection of an arbitrator."
Whether or not the arbitration process will include an appeal, which is an option under the FedArb Rules e.g.: "The parties agree to one final appeal under the FedArb Rules" or "The parties waive an appeal under the FedArb Rules."
FedArb Model Clauses:
Parties wishing to agree in advance to arbitrate, under the FedArb Rules, disputes that may arise between them, may do so by including the following language in their agreements for this purpose:
"The Parties to this contract agree that all disputes arising out of or in connection with, or in the application of, any of its provisions shall be finally resolved through arbitration under the administration of Federal Arbitration, Inc. and in accordance with its Rules for Arbitration."
Parties wishing to agree to arbitrate any dispute that has arisen between them on an ad hoc basis under the FedArb Rules and with FedArb administration may do so by using language identical or similar to the following:
"The Parties to this agreement acknowledge that the dispute described below has arisen between them, and that they agree to have the dispute, and all issues related to it, finally resolved through arbitration under the administration of Federal Arbitration, Inc. and in accordance with its Rules for Arbitration."
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