Sample Arbitration Clauses
Sample Arbitration Clause #1
Each party shall appoint one arbitrator, and the two arbitrators so appointed shall then appoint a neutral Umpire before proceeding. If either party fails to appoint an arbitrator within thirty (30) days after it receives a written request by the other party to do so, the other party may appoint an arbitrator for it. Should the two arbitrators fail to choose an Umpire within thirty (30) days of the appointment of the second arbitrator, each arbitrator shall propose three names, of whom the other shall strike two, and the decision shall be made from the remaining two by drawing lots. The arbitrators and Umpire shall be either present or former executives or officers of insurance or reinsurance companies, or arbitrators certified by ARIAS·U.S. The arbitrators and the Umpire shall not be under the control of either party, and shall have no financial interest in the outcome of the arbitration.