TRAC Standard Arbitration Clause
TRAC recommends the insertion of the following standard clause to all parties wishing to submit their disputes to the TRAC Rules of Arbitration:
“Any and all disputes arising out of, relating to or in connection with the present contract shall be finally settled under the Rules of Arbitration of Tehran Regional Arbitration Centre (TRAC).”
The parties may also wish to indicate in the arbitration clause the law that shall be applied by the arbitrator(s), and whether the dispute shall be decided by one or three arbitrators.