Arbitration Clause


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Arbitration Clause

A clause in a contract stating that, in the event of a dispute, parties shall follow an extrajudicial means of resolution in which they make their cases before an impartial person or panel. The clause may also indicate the specific process the parties shall follow in the event of arbitration. The clause is intended to save both parties the time and expense of a lawsuit.
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As regards Gaynor's argument that the arbitration clause was invalid under UAE (non-DIFC) law, since the applicable law to the arbitration has been determined to be DIFC law, the fact that the clause may not have been valid under the UAE Civil Procedure Code was immaterial.
84) Although these conditions would not be allowed in a contract, it is up to the arbiter to decide whether the damage limitations in the agreement are enforceable if they are found in the arbitration clause.
In a press statement, it cited the provision in the court ruling that NHMC and KGLI-NM, in invoking the arbitration clauses contained in the agreement, were 'estopped from questioning Udenna's standing to arbitrate.
In this case, the arbitration clause appeared on page nine, a violation that would have rendered the arbitration clause invalid.
73) When surveyed, 54% of consumers whose credit card agreements included a pre-dispute mandatory arbitration clause did not know whether they could take their credit card issuer to court or not.
Parties to a contract may have an arbitration clause that states all disputes related to or arising under the contract will be decided in arbitration.
15) As examples of rules interfering with the fundamental attributes of arbitration, the Court listed contract defenses that conditioned the enforcement of an arbitration clause on the use of a jury, the use of the Federal Rules of Evidence, or the use of court-monitored discovery.
Important Elements in any Foreign Arbitration Clause