Arbitration Clause

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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 (Vienna Rules) of the Vienna International Arbitral Centre (VIAC) of the Austrian Federal Economic Chamber by one or three arbitrators appointed in accordance with the said Rules.


Optional supplementary agreements on
:

(1) the number of arbitrators (one or three) (Article 17 Vienna Rules);

(2) the language(s) to be used in the arbitral proceedings (Article 26 Vienna Rules);

(3) the substantive law applicable to the contractual relationship, the substantive law applicable to the arbitration agreement (both Article 27 Vienna Rules), and the rules applicable to the proceedings (Article 28 Vienna Rules);

(4) the applicability of the provisions on expedited proceedings (Article 45 Vienna Rules);

(5) the scope of the arbitrators’ confidentiality (Article 16 paragraph 2) and its extension regarding parties, representatives and experts.