Any dispute, controversy, or claim arising out of or in connection with this contract, or the breach, termination, or invalidity thereof, shall be finally settled by arbitration administered by the International Trade Council (ITC) in accordance with its arbitration rules in effect at the time of the commencement of the arbitration.
The number of arbitrators shall be
The governing law of the contract shall be the substantive law of [country, as agreed by the parties].
The arbitration award shall be final and binding upon both parties, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.
The parties agree that the arbitrators shall have the authority to award any remedy or relief that a court of competent jurisdiction could order or grant, including, without limitation, specific performance, injunctive relief, and the recovery of costs and attorneys' fees.
The parties further agree to maintain the confidentiality of the arbitration proceedings, the arbitrators' award, and any documents or materials submitted during the arbitration, except as may be required by law or for purposes of enforcement or appeal of the award.
By incorporating this arbitration clause into their contract, the parties acknowledge that they waive their right to a court action or jury trial for any disputes arising out of or in connection with the contract, and agree to resolve their disputes exclusively through arbitration in accordance with the ITC's rules.