Common use of LAW APPLICABLE AND ARBITRATION Clause in Contracts

LAW APPLICABLE AND ARBITRATION. 13.1 This Contract and all other agreements and amendments pursuant and relating to this Contract shall be construed, interpreted and in all respects including those of product liability be governed by the Singapore Law. 13.2 Notwithstanding any translation of this Contract, Documents or any of the Annexes or Exhibits hereto into any other languages, the English wording shall prevail. 13.3 If any dispute arises between the parties hereto in regard to the design and/or construction of the Vessel, their machinery and equipment, and/or in respect of the materials and/or workmanship thereof, and/or thereon, or the Technical Specification or the Plans, the Parties may by mutual agreement refer the dispute to a classification society or to such other expert as may be mutually agreed between the parties hereto, and whose decision shall be final, conclusive, and binding upon the parties hereto. 13.4 In the event that the Parties hereto do not agree to settle a dispute according to Sub-Article 13.3 and/or in the event of any other dispute of any kind whatsoever between the parties and relating to this Contract or its rescission or any stipulation therein, such dispute etc, shall be submitted to arbitration under Sub-Article 13.5 below. 13.5 The dispute or difference shall be referred to arbitrators, one to be appointed by each party, and such arbitrators shall refer the matter to an umpire. Alternatively, the parties hereto may agree to refer such dispute or difference to a single arbitrator agreed between the parties or elected by the president of the Singapore International Arbitration Centre. Any such reference shall be deemed to be a submission to arbitration within the meaning of the Arbitration Act in force from time to time in Singapore. 13.6 Any such reference to arbitrators shall if related to delay require such arbitrators to state in any award made the number of days (if any) by which the Delivery Date shall be extended by reason arising from the dispute or difference. 13.7 Any arbitration under this Article shall take place in Singapore and in English language. 13.8 In the event of any dispute or difference arising or occurring prior to delivery to, or acceptance by, the Owner of the Vessel being referred to in arbitration, the parties hereby acknowledge that time is of the essence in obtaining an award from the arbitrator on such dispute and the parties hereby agree that the arbitration shall be conducted according to the following timetable : (a) The claimant in the arbitration to serve points of claim within fourteen (14) days of the appointment of the arbitrator. (b) The respondent in the arbitration to serve points of defense and points of counterclaim, if any, within fourteen (14) days thereafter. (c) The claimant to serve points of reply and defense to counterclaim, if any, within seven (7) days thereafter and the hearing of the arbitration to commence within twelve (12) weeks of the appointment of the arbitrator.Article 14