Unit 15. Common contract clauses: arbitration a. Vocabulary

Memorize the following:

ENGLISH:	RUSSIAN:
to resolve all disputes arising out of the Agreement	разрешать все споры, возникающие по настоящему Договору
by friendly negotiations	путем дружественных переговоров
the matter may, upon the application of either Party to the dispute, be referred to and resolved exclusively by arbitration in Stockholm, Sweden	вопрос может быть по заявлению любой из Сторон спора передан для исключительного разрешения в арбитраж в г. Стокгольме (Швеция)
in accordance with the rules of the International Chamber of Commerce in Paris	в соответствии с регламентом Международной торговой палаты (Париж)
without recourse to courts of law	без обращения в суды общей юрисдикции
written submissions and testimony	письменные заявления и показания
arbitration panel	арбитражная коллегия
award	арбитражное решение
excluding choice of law rules	исключая нормы, регулирующие выбор права
to render declaratory judgments	выносить решения о признании прав
to issue injunctive orders	издавать судебные предписания
to award monetary damages	присуждать возмещение убытков в денежной форме
The arbitration award shall be final and binding upon the Parties and may be enforced in any court of competent jurisdiction.	Решение арбитража является окончательным и обязательным для Сторон и может быть приведено в исполнение любым судом компетентной юрисдикции.

B. Assignments

1. Translate the following:

to arise out of or in connection with this agreement; to be referred to and resolved by arbitration; without recourse to courts of law; the official languages of the arbitration; orders of the arbitration tribunal; to issue the final award; to have native fluency in the language; to present written submissions and testimony; to the extent required by the party; the arbitration panel; to construe in accordance with the terms and conditions of the agreement; choice of law rules; to render declaratory judgements; to issue injunctive orders; to award monetary damages; to identify the composition of the arbitration tribunal, allocation of costs and expenses; to be final and binding upon the parties;

2. Translate into Russian:

The Parties shall attempt to resolve all disputes arising out of this Agreement by friendly negotiations.

In the event that the Parties fail to resolve a dispute within thirty (30) days, the matter may, upon the application of either Party to the dispute, be referred to and resolved exclusively by arbitration in Stockholm, Sweden in accordance with the rules of the International Chamber of Commerce in Paris, without recourse to courts of law.

The official languages of the arbitration shall be English and Russian, provided that all orders of the arbitration tribunal as well as the final award shall be issued in English only.

Written submissions and testimony may be presented to the arbitral tribunal in English and/or Russian.

The arbitration panel shall consist of three (3) arbitrators.

The award shall be decided by majority vote.

This Agreement and the rights and obligations of the Parties hereunder shall be construed in accordance with the terms and conditions of this Agreement and Russian Legislation (excluding choice of law rules).

The arbitrators shall have the power to render declaratory judgments and to issue injunctive orders, as well as to award monetary damages.

The award shall state the reasons for the decision, identify the composition of the arbitration tribunal, date and place of the decision, and allocation of costs and expenses of the arbitration between the Parties.

The arbitration award shall be final and binding upon the Parties and may be enforced in any court of competent jurisdiction.

The rights and obligations of the Parties arising out of or in connection with this Agreement shall be interpreted in accordance with RF Legislation.