Common use of Choice of Law and Arbitration Clause in Contracts

Choice of Law and Arbitration. This Agreement shall be governed by and construed in accordance with English law and any dispute arising out of, in connection with or relating to this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment thereof save to the extent necessary to give effect to the provisions of this Clause. The reference shall be to a sole arbitrator (“Arbitrator”), to be selected by the first party claiming arbitration from the persons currently on the Panel of Lloyd's Salvage Arbitrators with a right of appeal from an award made by the Arbitrator to either party by notice in writing to the other within twenty-eight (28) days of the date of publication of the original Arbitrator's Award. The Arbitrator on appeal shall be the person currently acting as Lloyd's Appeal Arbitrator. If the Arbitrator on appeal is unable to accept the appointment and an alternative cannot be agreed between the Parties then the Arbitrator on appeal will be the most senior available Arbitrator currently on the Panel of Lloyd's Salvage Arbitrators. No suit shall be brought before another Tribunal, or in another jurisdiction, except that either party shall have the option to bring proceedings to obtain conservative seizure or other similar remedy against any assets owned by the other party in any state or jurisdiction where such assets may be found. Both the Arbitrator and Appeal Arbitrator shall have the same powers as an Arbitrator and an Appeal Arbitrator under LOF 2011 or any standard revision thereof, including a power to order a payment on account of any monies due to the Contractor pending final determination of any dispute between the parties hereto.

Choice of Law and Arbitration. This Agreement shall be governed by and construed in accordance with English law and any dispute arising out of, in connection with or relating to this Agreement shall be referred to arbitration in London in accordance with the Arbitration Act 1996 or any statutory modification or re-enactment thereof save to the extent necessary to give effect to the provisions of this Clause. The reference shall be to a sole arbitrator (“Arbitrator”), to be selected by the first party claiming arbitration from the persons currently on the Panel of Lloyd's Xxxxx'x Salvage Arbitrators with a right of appeal from an award made by the Arbitrator to either party by notice in writing to the other within twenty-eight (28) days of the date of publication of the original Arbitrator's Award. The Arbitrator on appeal shall be the person currently acting as Lloyd's Appeal Arbitrator. If the Arbitrator on appeal is unable to accept the appointment and an alternative cannot be agreed between the Parties then the Arbitrator on appeal will be the most senior available Arbitrator currently on the Panel of Lloyd's Salvage Arbitrators. No suit shall be brought before another Tribunal, or in another jurisdiction, except that either party shall have the option to bring proceedings to obtain conservative seizure or other similar remedy against any assets owned by the other party in any state or jurisdiction where such assets may be found. Both the Arbitrator and Appeal Arbitrator shall have the same powers as an Arbitrator and an Appeal Arbitrator under LOF 2011 or any standard revision thereof, including a power to order a payment on account of any monies due to the Contractor pending final determination of any dispute between the parties hereto.