Arbitration Clause

An Arbitration Clause is a provision in a contract between two parties in which they agree to settle any disputes through arbitration instead of taking the case to court. In shipping, arbitration clauses are commonly included in contracts between shippers, carriers, and other parties involved in the transportation of goods. 

The arbitration clauses may be included in contracts such as bills of lading, charter parties, and other agreements related to the transportation of goods. These clauses typically specify the rules and procedures for the arbitration process, including the choice of arbitrator, the location of the arbitration, and the language to be used.