RAC is a member of these organizations

Latvijas Tirdzniecības un rūpniecības kamera

Mediācija un ADR

Latvijas Tirgotāju Asociācija

Rīgas Biznesa kamera

Rules of court
Arbitration Clause

Arbitration Clause

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The world of business knows at first hand how important it is to think over each step in advance and consider different options for the outcome of cases. Wise and intelligent entrepreneurs appreciate the security of their business more than anything else. One can secure the business, first, with correct documents and contracts. When making deals and concluding agreements, it is important to foresee and include the procedure for resolving disputes in the text of the agreement. Arbitration clause in the contract is an excellent choice in favor of the security of business.

1. “Any dispute, controversy or claim arising out of this contract that are associated with it, or the breach, termination or invalidity thereof, will be subject to settlement in the Riga Arbitration Court (№ 40003756873), in accordance with the rules of the arbitral tribunal, composed of one arbitrator.”

 

Including this clause, dispute will be reviewed in an oral form, in the presence of the parties.

 

2. “Any dispute, controversy or claim arising out of this Agreement which affect it or its violation, termination or invalidity thereof, will be subject to settlement in the Riga Arbitration Court (№ 40003756873) in accordance with the rules of the arbitral tribunal, composed of one arbitrator , in writing on the basis of the documents submitted.”

 

Including this clause, the dispute will be considered on the basis of the documents submitted, without the presence of the parties.

 

3. “Any dispute, controversy or claim arising out of this Agreement which affect it or its violation, termination or invalidity thereof, will be subject to settlement in the Riga Arbitration Court (№ 40003756873), in accordance with the rules of the arbitral tribunal, composed of one arbitrator the judge or the court of the Republic of Latvia chosen by the plaintiff."

 

ncluding this clause, the plaintiff has discretion concerning the court in which to sumbit the claim to – the Riga Arbitration Court, or the court of the Republic of Latvia.

 

For detailed comments and clarifications, please call or write.