Arbitral Authority Sample Clauses
The Arbitral Authority clause designates the specific body or individual responsible for overseeing and resolving disputes through arbitration under the contract. Typically, this clause identifies the chosen arbitration institution (such as the ICC or AAA) or outlines the process for appointing arbitrators if no institution is named. By clearly establishing who will administer the arbitration process, the clause ensures that any disagreements are handled efficiently and according to agreed-upon rules, thereby providing predictability and reducing uncertainty in dispute resolution.
Arbitral Authority. The arbitrator shall have no power to render a decision which adds to, subtracts from, or modifies this Agreement or which is in violation of applicable federal, state or local law. The decision shall be confined to the meaning of the contract provision which gave rise to the dispute.
Arbitral Authority. The Arbitrator shall have no authority to add to, subtract from, modify, change or alter any of the provisions of this Agreement. The Arbitrator’s decision shall be final and binding upon the Parties.