By this private instrument of Arbitral Commitment, on the one hand, the CLAIMER; below identified in Form 1 and the CLAIM, identified below in Form 2, agree that they will submit to the Arbitration Judge, under the terms of the mediation and extrajudicial arbitration law, as established by the New York Arbitration Convention, in 1958, and in accordance with the rules regulations for ADRs (Aternative Dispute Resolution) to find the definitive solution to the conflict between the parties according to the following conditions;
Appoints INTERNATIONAL MEDIATION AND ARBITRATION CHAMBER LLC, (INTERNATIONAL CHAMBER OF MEDIATION AND ARBITRATION) company providing mediation and arbitration services, incorporated and accredited by the North Carolina Department of State, under the number C 20218 199 00620, and registered in the IRS under EIN 83-1179268, with its head office, located at 11100 Monroe Road, Suit P, Mathews, NC 20105, as the institution responsible for the administration, the arbitration procedure and the necessary measures for its faithful execution, as well as accept, in the its Internal Regulations, which will guide the conduct of the arbitration procedure.
1. The object of the arbitration is the DEFINITIVE SOLUTION of the conflict arising between the parties resulting from the contract, process, or case that is duly specified below in Form 1.
2. After an agreement has been reached or an agreement has been built and formed between the parties, the MEDIATOR, the REFEREE, or the REFEREE involved, will issue the arbitral award that will be handed down in a document sent to the parties.
3. A Mediator, or competent Arbitrator (s), previously approved by IMAC, will be (are) commissioned by the Direction of the Chamber, to act as Mediator, in a place previously determined and agreed between the parties , or through virtual resources, through video conferencing through the system, ZOOM at a time previously determined and agreed between the parties;
4. The arbitral award must be presented, if the parties do not mention anything within a maximum period of 180 days.
5. The parties agree that the procedural costs and the fees for mediation or arbitration shall be borne by the person who causes the claim, which will also bear the legal fees, if any, at his request, (or will be apportioned between the parties. in the proportion of 50%, regardless of the result of the arbitration judgment, or decision agreed between the parties, as a result of the conciliation.
6. As it is true and understood about the duties and responsibilities of the items above, the parties acknowledge that by filling out the form below containing their data, they are aware of the right for INTERNATIONAL MEDIATION AND ARBITRATION CHAMBER LLC to draw up a legal document and proceed with the Mediation, required here, with all its terms and responsibilities.