Costs for Arbitration Sample Clauses

The 'Costs for Arbitration' clause defines how the expenses associated with an arbitration proceeding will be allocated between the parties involved. Typically, this clause specifies whether each party is responsible for its own legal fees and a share of the arbitrator's costs, or if one party may be required to cover all arbitration expenses depending on the outcome. By clearly outlining financial responsibilities, this clause helps prevent disputes over payment of arbitration costs and ensures both parties understand their potential financial exposure in the event of a dispute.