Standard arbitration clause - Expedited Arbitration
Where the dispute is less complicated or the amount in dispute is low and a fast resolution is particularly important to the parties, they may include in their contract the standard arbitration clause that provides for the application of the Rules for Expedited Arbitral Proceedings (Article 48 of the Ljubljana Arbitration Rules).
Any dispute, controversy or claim arising out of or in connection with this contract, including the breach, termination or validity thereof, shall be finally settled by arbitration in accordance with the Arbitration Rules of the Ljubljana Arbitration Centre at the Chamber of Commerce and Industry of Slovenia with the application of the Rules for Expedited Arbitral Proceedings.
• The Arbitral Tribunal shall be composed of [a sole arbitrator / three arbitrators].
• The seat of the arbitration shall be [city and state].
• The language to be used in the arbitral proceedings shall be [...].
• The governing law of the contract shall be the substantive law of [...].