Applicable law and arbitration

1. The present Contract shall be governed by and construed under the laws of Switzerland (applicable law).

2. Any disputes and difficulties between the Parties which may arise out of or in connection with this Contract including any disputes and difficulties related to its interpretation, execution, termination or validity shall be settled by means of negotiations between the Parties.

3. If the Parties fail to come to an agreement by negotiation such disputes and difficulties shall be settled by arbitration in accordance with the Rules of Arbitration of the International Chamber of Commerce.

4. The venue of arbitration shall be Geneva (Switzerland).

5. The arbitrational tribunal shall consist of three arbitrators.

6. The arbitration shall be conducted in English.

7. An award made by the arbitrators can be forwarded to any competent court or tribunal, and any application to recognize the award or to issue an order of the court to enforce the arbitration award can be submitted to the above-stated court or tribunal as the case may be.

8. Interim (temporary) measures as well as measures taken with the view of receiving any amount due or payable under the present Contract are excluded from the present arbitration clause while the Principal shall have the right to file claims (applications) for this purpose with any court (judicial body) of any competent jurisdiction.

Exercise 53. Read the above text and find the equivalents of the following expressions and word-combinations.

Разрешение споров; регулироваться и подлежать толкованию в соответствии с правом *; толкование; расторжение/прекращение; действительность; применимое право; арбитраж; Арбитражный Регламент Международной Торговой Платы; место арбитражного разбирательства; арбитражный трибунал; арбитр; проводить арбитражное разбирательство; выносить решение; предъявлять к исполнению; компетентный суд; судебный приказ; принудительное исполнение решения арбитражного суда; промежуточные (временные) меры; касающийся; причитающаяся сумма; прямо исключены из действия настоящей арбитражной оговорки; подавать иски; в этих целях; судебный орган; компетентная юрисдикция; по ссылке.

Exercise 54. Find synonyms of the following expressions and word-combinations in the above Contract.

Governing law, dispute resolution, the seat and place of arbitration.

Exercise 55. Substitute Russian expressions for those in English.

1. This Agreement is регулируется and shall be толкуется in accordance with the law of * and the parties hereby подчиняются to the исключительной юрисдикции of the * Courts.

2. Any разногласия arising out of or in connection with this Agreement shall be the subject of the исключительная юрисдикция судов in Paris.

3. Any разногласия arising out of or in connection with this Agreement, including any question regarding its существование, действительность or прекращение, shall be передаваться to and finally разрешаться by arbitration under the Rules of the LCIA, which Rules are считаться to be включенный по ссылке into this clause.

4. The number of арбитры shall be three. The место заседания арбитражного суда shall be London, Great Britain.

5. The юрисдикция of the English courts to rule on any question of law affecting the арбитраж and to hear any appeal from or entertain any судебный review of the арбитражное решение is hereby ousted to the maximum extent permitted by применимое право.

6. The арбитражный суд shall не может to take or provide, and each Party agrees not to seek from any судебный орган, any временные меры of protection against XXX, any положения of the ЮНСИТРАЛ Арбитражный регламент notwithstanding.

7. The арбитражный суд shall имеет право to consider and include in any proceeding, decision or решение any further dispute properly brought before it by XXX insofar as such dispute arises out of any Financing Agreement, but, subject to the foregoing, no other disputes shall be included in, or consolidated with, the арбитражное производство.

Exercise 56. Choose the correct word:

1. This Agreement shall be governed/ruledby andinterpreted/construedin accordance with English law and each party irrevocablysubmits/obeysto theadministration/jurisdictionof the English Courts.

2. Any disagreement/disputearising out of or in connection with this Agreement, including any question regarding itsexistence/persistence,legality/validity ortermination/interruption, shall bedirected/referred to and finallyresolved/solvedbylitigation/arbitration under the Rules of the LCIA, which Rules areconsidered/deemed to beincorporated/integratedby reference into this clause.

3. Where the UNCITRAL Arbitration Provisions/Rules do not provide for a particular situation thearbitrators/judgesshall determine what course of action should be followed.

Exercise 57. Fill in the blanks with the necessary prepositions.

Arbitration

1. All disputes and differences which may arise … … or … connection … the present Contract will be settled as far as possible … means … negotiations … the Parties. If the Parties do not come to an agreement, the matter, without recourse … Courts of law, is to be submitted … settlement, … Arbitration, with its seat … Stockholm, Sweden.

2. Arbitration shall be established as follows:

2.1 The Party which wishes to refer the dispute … Arbitration shall notify the other Party … a registered letter stating the name and the address … the arbitrator chosen who can be a citizen … any country as well as the subject … the dispute, date and Number … the Contract.

2.2 … 30 days … the receipt … the above letter the other party shall choose its Party … it … a registered letter stating the name and the address … the arbitrator chosen.

3. If the Party which has received the notification … the dispute being submitted … Arbitration fails to choose its arbitrator within the said period, the latter, … the other Party's request, will be appointed … 30 days … the date … the application … the President … the Chamber … Commerce … Stockholm.

4. … 30 days the arbitrators shall choose an Umpire, if the arbitrators fail to agree … the choice … the Umpire … 30 days … they have been nominated, … the request … either Party … the President … the Chamber … Commerce … Stockholm, Sweden.

5. The award is to be issued … a majority … votes … accordance … the terms and conditions … the present Contract, and also the rules … Swedish Material Law.

6. The arbitration award shall state the reasons … its decisions and contain information … the arbitration membership, time and place … the award passed, mention … the Parties' rights to state an opinion, as well as the allocation … the costs and expenses … the Arbitration … the Parties.

Exercise 58. Translate into English.