Common use of THE PARTIES UNDERSTAND AND AGREE Clause in Contracts

THE PARTIES UNDERSTAND AND AGREE. 24.5.1. EACH OF THEM IS WAIVING RIGHTS TO SEEK REMEDIES IN COURT, INCLUDING THE RIGHT TO A JURY TRIAL; 24.5.2. PRE-ARBITRATION DISCOVERY IN ARBITRATION PROCEEDINGS IS GENERALLY MORE LIMITED THAN AND DIFFERENT FROM COURT PROCEEDINGS;