Parties who adopt the above recommended decision clause may continue to enter into additional agreements on specific issues, such as the location of arbitration. B the nationality of referees, referees` qualification requirements, referee substitution rules, default rules of judgment and language used in arbitration, etc. If there is no prior agreement on these issues, as soon as the parties fail to reach agreement on such matters in institutional arbitration, the relevant disputes must be resolved by the competent arbitration institution or an arbitral tribunal, in accordance with the arbitration rules of the arbitration institution. In addition to the trade reserve, Article 1, paragraph 3, of the New York Convention also provides for reciprocal reservations, which means that “any state may declare that it applies the convention to the recognition and enforcement of distinctions that are granted only in the territory of another contracting state.” Article 14 of the New York Convention also provides for a more general provision on reciprocity, which states that “a contracting state does not have the right to use this Convention against other contracting states, unless it is itself obliged to apply the Convention.” A total of 76 contracting states expressed reservations on the basis of reciprocity as of the date of writing. In practice, the application of the New York Convention is ratified by the world`s major trading countries, so that reciprocal reservations rarely become an obstacle to recognizing the validity of an international trade arbitration agreement. C. Institutions and rules: arbitration institution, arbitration rules, Court of Arbitration Constitution, arbitrator, language of arbitration. It`s a pioneering judgment that can open a Pandora`s box. Most standardized contracts, such as loan contracts, the terms and conditions of an e-commerce website, contracts signed for the purchase of a SIM card, etc., executed in daily professional life, have a unilateral arbitration clause that allows the other party, i.e. businesses, to appoint arbitrators after their election. First, a compromise clause can be subdivided into the following: the procedure is provided for by law.
[v] It provides that a person may be appointed as an arbitrator, regardless of nationality, unless the parties agree otherwise. The parties can agree on a procedure for appointing the arbitrator. In the event that they fail to reach an agreement, for example in an arbitration that has 3 arbitrators, each party will appoint an arbitrator, and the other two arbitrators, who will be the presiding arbitrators, will appoint the third arbitrator. The parties themselves, or the designated authority or the arbitral institutions may appoint arbitrators. In the event of a dispute in international trade, it is essential that the designated arbitrator does not have the same nationality as the parties to the dispute. It is to protect partisanship and preserve the neutrality of the arbitrator. “Any dispute, controversy, the difference or claim arising from this contract, including the existence, validity, validity, interpretation, performance, breach or termination of this agreement or any dispute over non-contractual obligations arising from that contract or any dispute relating to non-contractual obligations arising from it, will be dealt with and resolved definitively by an arbitration procedure in force by the Hong Kong International Arbitration Centre (HKIAC) after the HKIAC Arbitration Rules, when the arbitration declaration is filed. There are several cases where companies have constructed the arbitration clause in such a way, either to appoint their employee as an arbitrator or to unilaterally appoint an arbitrator, i.e. to obtain a single party to appoint an individual arbitrator of his choice.