Common use of Disputes and Arbitration Clause in Contracts

Disputes and Arbitration. 34.1 The Parties shall do their best to negotiate in good faith and settle amicably all disputes, controversies or differences which may arise between the Parties, out of or in relation to or in connection with this Agreement or any breach thereof. If such dispute cannot be settled amicably through ordinary negotiations by appropriate officers or directors of the Parties within a thirty (30) day period of being first referred, it shall be submitted for final resolution by arbitration in Tokyo in accordance with the Commercial Arbitration Rules of The Japan Commercial Arbitration Association. Any judgment upon the award rendered by the arbitrators may be entered in any court having jurisdiction therein. Any award rendered by the arbitrators may include costs against either Party, but under no circumstances are the arbitrators authorized or empowered to award special, punitive or multiple damages against either Party. The award of the arbitration shall be final and binding to the Parties.

Disputes and Arbitration. 34.1 30.1 The Parties shall do their best to negotiate in good faith and settle amicably all disputes, controversies or differences which may arise between the Parties, out of or in relation to or in connection with this Agreement or any breach thereof. If such dispute cannot be settled amicably through ordinary negotiations by appropriate officers or directors of the Parties within a thirty (30) day period of being first referred, it shall be submitted for final resolution by arbitration in Tokyo in accordance with the Commercial Arbitration Rules of The Japan Commercial Arbitration Association. Any judgment judgement upon the award rendered by the arbitrators may be entered in any court having jurisdiction therein. Any award rendered by the arbitrators may include costs against either Party, but under no circumstances are the arbitrators authorized or empowered to award special, punitive or multiple damages against either Party. The award of the arbitration shall be final and binding to the Parties.