INTERNATIONAL ARBITRATION AND MEDIATION - 9

an excerpt from ALTERNATIVE DISPUTE RESOLUTION 2001 EDITION
published by the llinois Institute for Continuing Legal Education

© 2001 by Stephen E. Smith

III. Drafting the International Arbitration Agreement

K. [23.17] Jurisdictional Defenses, Waiver, Jury Waiver

These provisions amount to an irrevocable nonexclusive submission to the jurisdiction of a certain court and the waiver of a jury trial on a money claim.

L. [23.18] Language

This seemingly tautological provision reminds the drafter to include the language in which the arbitration is to take place, regardless of its geographical seat.

M. [23.19] Limitations Periods

It may be useful to the parties to know that, after a certain period of time has passed, any claim regarding the contract is time-barred. If the element of time is important to the relationship between the parties, the agreement should include such a time-related provision.