New Arbitrators Clause Samples
The "New Arbitrators" clause establishes the procedure for appointing replacement arbitrators if an original arbitrator is unable or unwilling to continue. Typically, this clause outlines how parties will select a new arbitrator, whether by mutual agreement, a designated authority, or following the original appointment process. Its core function is to ensure that arbitration proceedings can continue smoothly without undue delay or disruption, thereby maintaining the integrity and efficiency of the dispute resolution process.
New Arbitrators. If three arbitrators are selected under the foregoing procedure but two of the three fail to reach an Agreement in the determination of the matter in question, the matter shall be decided by three new arbitrators who shall be appointed and shall proceed in the same manner, and the process shall be repeated until a decision is finally reached by two of the three arbitrators selected.
New Arbitrators. If the arbitrators selected, pursuant to Paragraph c., above, shall fail to render a decision within thirty (30) days of the date of hearing, they shall be discharged, and three new arbitrators shall be appointed and shall proceed in the same manner, and the process shall be repeated until a decision is finally reached by two of the three arbitrators selected.