"Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be settled by arbitration in accordance with the Chicago International Dispute Resolution Association (CIDRA) Arbitration [and/or Mediation] rules in force at the time of the arbitration or mediation."

Parties may wish to consider adding a provision that:

1. number of arbitrators shall be . . . (one or three);
2. place of arbitration shall be . . . (town); and
3. anguage(s) to be used in the arbitral proceedings shall be . . . (language or languages).