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Arbitration agreements require that persons who signed them resolve any disputes by binding arbitration, rather than in court before a judge and/or jury. What is binding arbitration? Binding arbitration involves the submission of a dispute to a neutral party who hears the case and makes a decision.

In turn, the standard LCIA arbitration clause reads as follows: ?Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the LCIA Rules, which Rules are deemed to be ...

A court will conclude that a party agreed to have the arbitrator decide arbitrability as well as merits issues, even without the party's written consent, if the party willingly participates in the arbitration without objecting to the arbitrator's jurisdiction or authority.

An example of a basic arbitration clause is: ?Dispute Resolution: Any claim, dispute or difference relating to or arising out of this Agreement shall be referred to the arbitration, of a sole arbitrator. The arbitration shall be subject to the Arbitration and Conciliation Act, 1996 as may be amended from time to time.

To draft a valid arbitration agreement, parties should also be conscious of the requirements imposed on specific parties or the inarbitrability of certain disputes. Some countries may impose requirements such as a formal authorisation for State entities to enter into arbitration agreements.

In the event a dispute shall arise between the parties to this [contract, lease, etc.], it is hereby agreed that the dispute shall be referred to United States Arbitration & Mediation for arbitration in ance with United States Arbitration & Mediation Rules of Arbitration.