Common use of Dispute Resolution and Applicable Law Clause in Contracts

Dispute Resolution and Applicable Law. 14.1 Any dispute between the Guarantee Holder and MIGA arising out of or in connection with the Contract shall be settled by final and binding arbitration in accordance with the Rules of Arbitration. 14.2 The arbitral tribunal constituted under the Rules of Arbitration shall apply the Contract, the Convention and, to the extent that issues in dispute are not covered by the Contract or the Convention, the arbitral tribunal shall apply general principles of law. The arbitration shall be conducted in Brussels, Belgium and the language of the arbitration shall be English. 14.3 The award of the arbitral tribunal shall be final and binding and shall be carried out without delay.