Fast Track Administered Arbitration

1.      Pre-Dispute Clause

Any dispute arising out of or relating to this contract, including the breach, termination or validity thereof, shall be finally resolved by arbitration in accordance with the International Institute for Conflict Prevention and Resolution (“CPR”) Rules for Administered Arbitration of International Disputes (the “Administered Rules”), as supplemented and modified by the CPR Fast Track Rules for Administered Arbitration of International Disputes (the “Rules”), by [a sole arbitrator] [three arbitrators]. Subject to any extension granted under Rule 4.5 of the Rules, the arbitration shall be conducted in accordance with a procedural timetable providing for the delivery of an award [within __ days after the constitution of the Tribunal] [as provided in the Rules]. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1 et seq., and judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof. The place of the arbitration shall be (city, state).

2.      Existing Dispute Submission Agreement

We, the undersigned parties, hereby agree to submit to arbitration in accordance with the International Institute for Conflict Prevention and Resolution (“CPR”) Rules for Administered Arbitration of International Disputes (the “Administered Rules”), as supplemented and modified by the CPR Fast Track Rules for Administered Arbitration of International Disputes (the “Rules”), the following dispute:

[Describe briefly]

We further agree that the above dispute shall be submitted to a [sole arbitrator] [three arbitrators]. Subject to any extension granted under Rule 4.5 of the Rules, the arbitration shall be conducted in accordance with a procedural timetable providing for the delivery of an award [within __days after the constitution of the Tribunal] [as provided in the Rules]. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. §§ 1 et seq., and judgment upon the award rendered by the arbitrator may be entered by any court having jurisdiction thereof. The place of the arbitration shall be (city, state).

3.      Optional Clause Limiting Application of Fast Track Arbitration Rules to Claims Below a Financial Threshold

Note: [To be used with CPR Clauses 1. (Pre-Dispute Clause) or 2. (Existing Dispute Submission Agreement) of the CPR Rules for Administered Arbitration of International Disputes]

Provided, however, that where the stated amount of the claim or counterclaim does not exceed [specify amount] exclusive of interest or costs under Rule 19 of the Administered Rules, the CPR Fast Track Rules for Administered Arbitration of International Disputes (the “Fast Track Rules”) shall apply to supplement and modify the CPR Rules for Administered Arbitration of International Disputes (the “Administered Rules”). Furthermore, subject to any extension granted under Rule 4.5 of the Fast Track Rules, the arbitration shall be conducted in accordance with a procedural timetable providing for the delivery of an award [within __ days after the constitution of the Tribunal] [as provided in the Fast Track Rules].

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