If you decide to agree to an arbitration clause, then you should carefully consider what issues you want to address in the clause. Below are some key points and provisions that should be considered when negotiating or drafting an arbitration clause.
1. Consider the Number of Arbitrators
Using only one arbitrator may be risky because
Arbitration clauses are very common in contracts in the construction and energy industries. Many industry players reflexively insist on arbitration despite its pitfalls. While arbitration has its place, a bench trial is a viable alternative to arbitration.
Bench trials are simply trials to a judge rather than a jury. Parties may agree to a bench