CODAC Model Clause

CODAC Model Clause

Any dispute, controversy, difference or claim arising out of or in connection with this Contract, including but not limited to any question regarding its existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it, shall be referred to and  finally resolved by arbitration administered by the Contractual Disputes Arbitration Club (“CODAC”) in accordance with the Arbitration Rules of the CODAC* (“CODAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this Clause, when the Complying Request for Arbitration is submitted

 The seat of the arbitration shall be Tehran, I. R. of Iran

The number of arbitrators shall be … -one or three

 The language of the arbitration shall be Farsi/English