Common use of Binding External Arbitration Clause in Contracts

Binding External Arbitration. In lieu of the option in Article 8(a), if within sixty (60) days of the initial notification, after such sixty (60) day period but before eighty (80) days from such initial notification of a dispute, the Seller (only) may elect to refer such dispute under this Agreement to a proceeding for binding arbitration to be conducted at an agreed location, or if the Parties cannot agree on a mutually agreeable location, in Dar es Salaam. Any such arbitration proceeding shall be conducted by a neutral arbitrator selected by the Parties. If the Parties cannot mutually agree on a neutral arbitrator, each Party shall appoint a single arbitrator trained in arbitration and not related to any Parties, to the financial interests of either Party, nor to the dispute, and these two arbitrators shall mutually agree on a third neutral arbitrator. The Seller, in electing to select binding external arbitration under this provision in lieu of the dispute resolution provision under Article 8(a), shall be responsible to reimburse the reasonable travel and per diem expenses of the Buyer to participate in this arbitration, if it is held outside of The United Republic of Tanzania. Once the Seller elects in writing as provided herein, with notice to the other Party and the Authority, to refer any dispute to binding arbitration, the decision of the arbitrator(s) shall be final and binding on the Parties without further resort for any Party to judicial or other remedies, provided however, that if binding arbitration has not reached a final decision within three-hundred sixty (360) days of the mutual referral of the dispute to binding arbitration, and such failure is not due to the lack of cooperation of a given Party, that Party may without penalty or forfeiture of any legal or equitable rights hereunder withdraw from such arbitration and seek other remedies at law or at equity consistent with this Agreement, including within twenty (20) days of such withdrawal either Party may invoke the dispute resolution provisions of Article 8(a).

Binding External Arbitration. In lieu of the option in Article 8(a), if within sixty (60) days of the initial notification, after such sixty (60) day period but before eighty (80) days from such initial notification of a dispute, the Seller (only) may elect to refer such dispute under this Agreement AGREEMENT to a proceeding for binding arbitration to be conducted at an agreed location, or if the Parties cannot agree on a mutually agreeable location, in Dar es Salaam. in…………….. Any such arbitration proceeding shall be conducted by a neutral arbitrator selected by the Parties. If the Parties cannot mutually agree on a neutral arbitrator, each Party shall appoint a single arbitrator trained in arbitration and not related to any Parties, to the financial interests of either Party, nor to the dispute, and these two arbitrators shall mutually agree on a third neutral arbitrator. The Seller, in electing to select binding external arbitration under this provision in lieu of the dispute resolution provision under Article 8(a), shall be responsible to reimburse the reasonable travel and per diem expenses of the Buyer to participate in this arbitration, arbitration if it is held outside of The United Republic of Tanzaniaof……………. Once the Seller elects in writing as provided herein, with notice to the other Party and the AuthorityRegulator, to refer any dispute to binding arbitration, the decision of the arbitrator(s) shall be final and binding on the Parties without further resort for any Party to judicial or other remedies, provided however, that if binding arbitration has not reached a final decision within three-hundred sixty (360) days of the mutual referral of the dispute to binding arbitration, and such failure is not due to the lack of cooperation of a given Party, that Party may without penalty or forfeiture of any legal or equitable rights hereunder withdraw from such arbitration and seek other remedies at law or at equity consistent with this AgreementAGREEMENT, including within twenty (20) days of such withdrawal either Party may invoke the dispute resolution provisions of Article 8(a).

Binding External Arbitration. In lieu of the option in Article 8(a), if within sixty (60) days of the initial notification, after such sixty (60) day period but before eighty (80) days from such initial notification of a dispute, the Seller (only) may elect to refer such dispute under this Agreement AGREEMENT to a proceeding for binding arbitration to be conducted at an agreed location, or if the Parties cancan not agree on a mutually agreeable location, in Dar es Salaam. Any such arbitration proceeding shall be conducted by a neutral arbitrator selected by the Parties. If the Parties cannot mutually agree on a neutral arbitrator, each Party shall appoint a single arbitrator trained in arbitration and not related to any Parties, to the financial interests of either Party, nor to the dispute, and these two arbitrators shall mutually agree on a third neutral arbitrator. The Seller, in electing to select binding external arbitration under this provision in lieu of the dispute resolution provision under Article 8(a), shall be responsible to reimburse the reasonable travel and per diem expenses of the Buyer to participate in this arbitration, if it is held outside of The United Republic of Tanzania. Once the Seller elects in writing as provided herein, with notice to the other Party and the Authority, to refer any dispute to binding arbitration, the decision of the arbitrator(s) shall be final and binding on the Parties without further resort for any Party to judicial or other remedies, provided however, that if binding arbitration has not reached a final decision within three-hundred sixty (360) days of the mutual referral of the dispute to binding arbitration, and such failure is not due to the lack of cooperation of a given Party, that Party may without penalty or forfeiture of any legal or equitable rights hereunder withdraw from such arbitration and seek other remedies at law or at equity consistent with this AgreementAGREEMENT, including within twenty (20) days of such withdrawal either Party may invoke the dispute resolution provisions of Article 8(a).

Binding External Arbitration. In lieu of the option in Article 8(a), if within sixty (60) days of the initial notification, after such sixty (60) day period but before eighty (80) days from such initial notification of a dispute, the Seller (only) may elect to refer such dispute under this Agreement AGREEMENT to a proceeding for binding arbitration to be conducted at an agreed location, or if the Parties cannot agree on a mutually agreeable location, in Dar es Salaam. Any such arbitration proceeding shall be conducted by a neutral arbitrator selected by the Parties. If the Parties cannot mutually agree on a neutral arbitrator, each Party shall appoint a single arbitrator trained in arbitration and not related to any Parties, to the financial interests of either Party, nor to the dispute, and these two arbitrators shall mutually agree on a third neutral arbitrator. The Seller, in electing to select binding external arbitration under this provision in lieu of the dispute resolution provision under Article 8(a), shall be responsible to reimburse the reasonable travel and per diem expenses of the Buyer to participate in this arbitration, arbitration if it is held outside of The United Republic of Tanzania. Once the Seller elects in writing as provided herein, with notice to the other Party and the Authority, to refer any dispute to binding arbitration, the decision of the arbitrator(s) shall be final and binding on the Parties without further resort for any Party to judicial or other remedies, provided however, that if binding arbitration has not reached a final decision within three-hundred sixty (360) days of the mutual referral of the dispute to binding arbitration, and such failure is not due to the lack of cooperation of a given Party, that Party may without penalty or forfeiture of any legal or equitable rights hereunder withdraw from such arbitration and seek other remedies at law or at equity consistent with this AgreementAGREEMENT, including within twenty (20) days of such withdrawal either Party may invoke the dispute resolution provisions of Article 8(a).