Third Party / Arbitration Clause Samples

Third Party / Arbitration. In the event the parties are unable to come to an agreement within 21 days of the date Helix first gave notice to CPL under Section 8.1, the matter may be referred by either Party to a mutually acceptable, qualified and independent Third Party whose fees shall be paid by the non-prevailing Party. If the parties are unable to agree upon a qualified and independent Third Party within twenty-one (21) calendar days of the date a Party first notifies the other that it wishes to so refer the matter, then the matter shall be resolved by arbitration conducted in English in Toronto, Ontario in accordance with the Arbitration Act (Ontario) as the same may be amended from time to time. The arbitration shall be conducted as follows: (a) either Party may require arbitration by giving written notice to arbitrate to the other Party; (b) if the Parties are able to agree upon a single arbitrator, the arbitration shall be conducted before the single arbitrator; (c) if the Parties have been unable to agree upon the selection of a single arbitrator within fourteen (14) calendar days after receipt of the notice requiring arbitration, each Party shall within seven (7) further calendar days by notice in writing given to the other Party nominate one (1) neutral arbitrator. If either Party fails to nominate an arbitrator, the single arbitrator nominated by the other Party shall proceed to conduct the arbitration alone. If both Parties nominate neutral arbitrators, the two arbitrators so nominated shall nominate a third arbitrator within seven (7) calendar days of their nomination. The Parties agree that it is important that the matter be resolved promptly and the Parties agree that the arbitration will be required to be conducted expeditiously and that the final disposition shall be accomplished within fourteen (14) calendar days of the appointment of the single arbitrator or the third arbitrator. The Parties shall ensure that the arbitrator or arbitrators upon accepting nomination agree that they have the time available for the timely handling of the arbitration in order to achieve the final disposition within fourteen (14) calendar days. The decision of the arbitrator or arbitrators shall be rendered in writing, without reasons and shall be binding upon the Parties.