Common use of Arbitration 262 Clause in Contracts

Arbitration 262. a)* This Agreement shall be governed by and construed in accordance with English law and 263 any dispute arising out of this Agreement shall be referred to arbitration in London in 264 accordance with the Arbitration Acts 1950 and 1979 or any statutory modification or 265 re-enactment thereof for the time being in force, one arbitrator being appointed by each 266 party. On the receipt by one party of the nomination in writing of the other party’s arbitrator, 267 that party shall appoint their arbitrator within fourteen days, failing which the decision of the 268 single arbitrator appointed shall apply. If two arbitrators properly appointed shall not agree 269 they shall appoint an umpire whose decision shall be final. Arbitrators to be members of the 270 LMAA.

Arbitration 262. a)* This Agreement shall be governed by and construed in accordance with English law and 263 any dispute arising out of this Agreement shall be referred to arbitration in London in 264 accordance with the Arbitration Acts 1950 and 1979 1996 or any statutory 265 modification or 265 re-enactment thereof for the time being in force, one arbitrator being appointed by each 266 party. On the receipt by one party of the nomination in writing of the other party’s arbitrator, 267 that party shall appoint their arbitrator within fourteen days, failing which the decision of the 268 single arbitrator appointed shall apply. If two arbitrators properly appointed shall not agree 269 they shall appoint an umpire whose decision shall be final. Arbitrators to be members of the 270 LMAA.270