Neutral Arbitrators Sample Clauses
The Neutral Arbitrators clause establishes that any arbitrators appointed to resolve disputes between parties must be impartial and have no vested interest in the outcome. In practice, this means that arbitrators cannot have prior relationships with either party or any financial stake in the dispute, and both parties typically have a say in the selection process to ensure fairness. The core function of this clause is to guarantee an unbiased and equitable arbitration process, thereby increasing trust in the resolution mechanism and minimizing the risk of perceived or actual favoritism.
Neutral Arbitrators. None of the Parties or the arbitrators shall select any arbitrator for the arbitral tribunal who has any interest in the Dispute or who has, or within the immediately preceding five (5) years has had, any economic or other relationship with any party to the Dispute.
Neutral Arbitrators. The parties shall alternately strike from this list until one (1) name remains; that person shall be the one (1) to hear and decide the grievance.