Model Clause

"All disputes or claims arising out of or in connection with this contract including disputes relating to its validity, breach, termination or nullity shall be finally settled under the Rules of Arbitration of the International Arbitral Centre of the Austrian Federal Economic Chamber in Vienna (Vienna Rules) by one or three arbitrators appointed in accordance with the said Rules."

Possible supplementary agreements:

(1) The provisions on expedited proceedings are applicable;

(2) The number of arbitrators shall be .............. (one or three);

(3) The substantive law of .............. shall be applicable;*)

(4) The language to be used in the arbitral proceedings shall be .............. .



*) In this context, consideration may be given to the possible application or exclusion of the United Nations Convention on Contracts for the International Sale of Goods, 1980.