TRAC MODEL 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 dispute arising out of, relating to or in connection with this contract including any question regarding its existence, validity or termination, shall be referred and finally resolved by arbitration administered by the Tehran Regional Arbitration Centre (“TRAC”) and in accordance with the Arbitration Rules of TRAC. The applicable law shall be […]*.”
* Choice of parties
The parties may also wish to indicate in the arbitration clause the number of arbitrators as well as the language and the place of arbitration.