This form is an Arbitration Reference Clause usable to compel arbitration in contracts where licensing, patents, or commercial trade secrets are a factor.
Tennessee Arbitration Reference Clause
State:
Multi-State
Control #:
US-TS10042A
Format:
Word;
PDF;
Rich Text
Instant download
Description
How to fill out Arbitration Reference Clause?
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FAQ
(1) Where an arbitration agreement provides that a reference shall be to three Arbitrators, one to be appointed by each party and the third by the two appointed arbitrators, the agreement shall have effect as if it provided for the appointment of an umpire, and not for the appointment of a third arbitrator, by the two ...
The Terms of Reference are a contractual instrument signed by the parties and the arbitrators after the arbitral tribunal is constituted. Its main objective is to define the dispute in a clear manner and to evidence the agreement of the parties in regard to procedural matters.
A written agreement to submit any existing controversy to arbitration or a provision in a written contract to submit to arbitration any controversy thereafter arising between the parties is valid, enforceable and irrevocable save upon such grounds as exist at law or in equity for the revocation of any contract; ...
Arbitration can only take place if both parties have agreed to it. In the case of future disputes arising under a contract, the parties insert an arbitration clause in the relevant contract. An existing dispute can be referred to arbitration by means of a submission agreement between the parties.
Arbitration agreements are presumptively valid, enforceable, and irrevocable in Tennessee (T.C.A.
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
2 A person appointed by two arbitrators who cannot agree on the award to be made in a dispute to be settled by arbitration. The procedure for appointing a referee in these circumstances is usually laid down in the terms of arbitration.
The Terms of Reference are an instrument or device in the ICC Arbitration Rules that fixes, by agreement between the arbitrator and the parties, the arbitrator's tasks and the procedural means for achieving them.
