Common use of Forum For The Arbitration And Selection Of Arbitrators Clause in Contracts

Forum For The Arbitration And Selection Of Arbitrators. The arbitration proceed­ing shall be conducted in Houston, Texas. Within thirty days of the notice of initiation of the arbitration procedure, each Party shall select one Arbitrator. The two arbitrators shall select a third arbitrator, failing agreement on which within ninety days of the original notice, the parties (or either of them) shall apply to any United States District Judge for the Southern District of Texas, Houston Division, who shall appoint the third arbitrator. While the third arbitrator shall be neutral, the two Party-appointed Arbitrators are not required to be neutral and it shall not be grounds for removal of either of the two Party-appointed Arbitrators or for vacating the arbitrators’ award that either of such arbitrators has past or present minimal relationships with the Party that appointed such arbitrator. The decision of the arbitrators shall be final and binding upon the parties without the right of appeal to the courts. The award rendered by the arbitration shall be final and judgment thereon may be entered by any court having jurisdiction thereof. The costs and expenses of the arbitration (including reasonable attorney’s fees) will be borne by the losing party, unless the arbitrators determine that it would be manifestly unfair to honor this agreement of the parties and determine a different allocation of costs.

Forum For The Arbitration And Selection Of Arbitrators. The arbitration proceed­ing proceeding shall be conducted in Houston, Texas. Within thirty (30) calendar days of the notice of initiation of the arbitration procedure, each Party shall select one Arbitrator. The two arbitrators shall select a third arbitrator, failing agreement on which within ninety (90) calendar days of the original notice, the parties (or either of them) shall apply to any United States District Judge for the Southern District of Texas, Houston Division, who shall appoint the third arbitrator. While the third arbitrator shall be neutral, the two Party-appointed Arbitrators are not required to be neutral and it shall not be grounds for removal of either of the two Party-appointed Arbitrators or for vacating the arbitrators’ ' award that either of such arbitrators has past or present minimal relationships with the Party that appointed such arbitrator. The Arbitrators shall issue a final ruling within ninety (90) calendar days of the date of the selection or appointment of the third arbitrator. The decision of the arbitrators shall be in writing and signed and be final and binding upon the parties without the right of appeal to the courts. The award rendered by the arbitration shall be final and judgment thereon may be entered by any court having jurisdiction thereof. The costs and expenses of the arbitration (including reasonable attorney’s 's fees) will be borne by the losing party, unless the arbitrators determine that it would be manifestly unfair to honor this agreement of the parties and determine a different allocation of costs.