Capital construction Contract Essay Example | Topics and Well Written Essays - 2750 words

Capital construction Contract - quiz ExampleThe draft that needs to be reviewed is as below Any dispute or whatever nature arising out of or in whatsoever way relating to the Agreement or to its construction or fulfilments can be referred to arbitration. Such arbitration shall take place in Dubai or Sanaa, or some(prenominal) other place as the parties may agree, and shall proceed in accordance with the Rules of Arbitration of the LCIA-DIFC in Dubai. twain parties hereby agree that, at least, one arbitrator should be Dr Karim Akram. Many factors influence the path elect to resolve expected and unexpected disputes that may arise during the course of the agreement between the parties and may play on the identities of the parties, the courts and their jurisdiction in play and location of assets among others. And without a clear clause for dispute resolution, any dispute arising may be tossed at some court which may not be the premier(prenominal) choice of either or both the parti es (International Arbitration An Overview, 2012). 2. Purpose of report Firstly, it is observed that there is a general ambiguity between going for arbitration or a litigation when there is a conflict of interest between two parties in agreement, which calls for a thorough consideration of the advantages of both and choosing the surmount course in the interest of both the companies and the general public at large. Being the Contract jitney and Arbitration Specialist at the company, I am entrusted with this job of reviewing the best course of action to modify the smooth conduct of the agreement between the company and the other company based in Yemen. Secondly, as the other party is based in another country with many of the International conventions