Supplement No. 3 to the Rules of the Riga International Arbitration Court
Sample of the Arbitration Clause (*)
All disputes, differences or claims arising out of or in connection with the present agreement, which concerns it or an infringement of it, termination or invalidity, shall be finally settled at the Riga International Arbitration Court in accordance with its Arbitration Rules.
The parties may supplement the Arbitration Clause, adding to it:
1) the number of arbitrators is ________ (one or three);
2) the language of arbitration is ________;
3) place of arbitration is ________________.
(*) Sample of text of the Arbitration Clause has recommendatory nature.
Palasta str 10, Riga, Latvia
Opening hours: every working day 11.00 - 13.00
Legal expenses of the Riga International Arbitration Court are substantially lower than the court fees of the state’s courts of law and there are no expenses for appeals and the Supreme Court of Cassation needed.
Arbitration Court has an extensive list of arbitrators, consisting of highly competent professionals.
Arbitration Court settles any disputes with no unnecessary delay - within a period between a month and 3 months, depending on the complexity of a case.