Arbitration Requirement and Rules Clause Samples

Arbitration Requirement and Rules. Any dispute, controversy or claim between any parties, including the Users and 10EQS, arising out of or in relation to these Terms of Service, including the validity, invalidity, performance, breach or termination thereof, shall be settled by arbitration in accordance with the Swiss Rules of International Arbitration of the Swiss ▇▇▇▇▇▇▇▇ of Commerce in force on the date when the Notice of Arbitration is submitted in accordance with these Rules. i. one in any dispute with a declared value of up to and including US$50,000 (fifty thousand US Dollars). Such arbitrator shall be appointed by the Swiss Chamber of Commerce. ii. three in any dispute with a declared value of over US$50,000 (fifty thousand US Dollars). Each party shall have the right to appoint one arbitrator within fourteen (14) days from the date of the submission to arbitration or otherwise as provided for in the applicable Rules. Upon the failure of the party timely to appoint the arbitrator, the Chamber shall appoint such arbitrator. The Swiss Chamber of Commerce shall appoint a neutral third arbitrator to be the Chairman of the Arbitration Panel. The seat of the arbitration shall be in Lugano, Switzerland. The arbitral proceedings shall be conducted in English. The above arbitration clause shall be deemed a separate agreement separable from the Terms of Service and the validity thereof shall not be affected by any partial or total invalidity or unenforceability of any terms or clause of the Terms of Service or any part thereof.