How to Draft an Arbitration Agreement?

One brush should not paint all the painting :this is what I think!

A good arbitration agreement is one which minimizes complications when dispute arises. However, people neglect to pay attention while drafting an arbitration agreement. Before finalizing an arbitration agreement, the terms should be thoroughly discussed and negotiated to avoid any misunderstanding at a later stage. Arbitration lawyers from all applicable jurisdictions must be consulted before finalizing any arbitration agreement.

Before signing an Arbitration Agreement the following must be properly addressed:

• Applicable law to arbitration
• Location of Arbitration
• Number of Arbitrators
• Language of Arbitration
• Discovery procedure
• Limitation to arbitration powers
• Interim measures/Provisional Remedies
• Privacy
• Rules Applicable
• Appeal & Enforcement
• Be aware of local peculiarities
• Survival after Termination of the main agreement.

The arbitration agreement should be modified as applicable under different circumstances.

I say so becasue many a times the agreements are hapazardly copied and pasted and or used in fill in the blanks forms and thus lead to many more complications and or legal complexities.

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