Arbitration clause

Text of “arbitration clause” for inclusion in a Contract (Protocol, Agreement) on mutual consent of the turns for considering possible arguments in the Court of Arbitration of ARB:

“Arguments arising between the parties as a result of alteration, abrogation, non-executing or unduly executing of the present Contract as well as arguments concerning its nullity are settled in the Court of Arbitration of the Association of Russian Banks in accordance with its Regulations. Judgments of the Court of Arbitration of the Association of Russian Banks are acknowledged by the parties as obligatory for execution. The sides confirm that the decision of the Court of Arbitration of the Association of Russian Banks not executed in time is carried into effect in accordance with legislation of Russian Federation, legislation of the territory of execution, inter-republican and international Agreements”.

Contact information:

Chair of Court of Arbitration of ARB: Balayan L.G.

Executive Secretary of Court of Arbitration of ARB: Gritsaenko V.A.

Address of Court of Arbitration of the Association of Russian Banks:

121069, Moscow, Skaternyi per., 20, building 1 (metro station “Arbatskaya”, “Pushkinskaya”, “Barrikadnaya”)

Information on the work of Court of Arbitration of ARB can be received by telephones: (7-495)291-5264, mobile tel. 8-903-120-6076, fax (495) 161-58-10