Common use of External Arbitration Procedures Clause in Contracts

External Arbitration Procedures. Any arbitration initiated under this Regional Tariff shall be conducted before a single neutral arbitrator appointed by the parties to the dispute (hereinafter, the “Parties”). If the Parties fail to agree upon a single arbitrator within ten (10) days of the referral of the dispute to arbitration, each of the Parties shall choose one arbitrator who shall sit on a three-member arbitration panel. The two arbitrators so chosen shall within twenty (20) days select a third arbitrator to chair the arbitration panel. In either case, the arbitrators shall be knowledgeable in electric utility matters, including electric transmission and bulk power issues, and shall not have any current or past substantial business or financial relationships with any party to the arbitration (except prior arbitration). The arbitrator(s) shall provide each of the Parties an opportunity to be heard and, except as otherwise provided herein, shall generally conduct the arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association and any applicable Commission regulations.

External Arbitration Procedures. Any arbitration initiated under this Second Regional Tariff shall be conducted before a single neutral arbitrator appointed by the parties to the dispute (hereinafter, the “Parties”). If the Parties fail to agree upon a single arbitrator within ten (10) days of the referral of the dispute to arbitration, each of the Parties shall choose one arbitrator who shall sit on a three-member arbitration panel. The two arbitrators so chosen shall within twenty (20) days select a third arbitrator to chair the arbitration panel. In either case, the arbitrators shall be knowledgeable in electric utility matters, including electric transmission and bulk power issues, and shall not have any current or past substantial business or financial relationships with any party to the arbitration (except prior arbitration). The arbitrator(s) shall provide each of the Parties an opportunity to be heard and, except as otherwise provided herein, shall generally conduct the arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association and any applicable Commission regulations.