In some arbitration rules, specially ICC Arbitration and Mediation Rules, before initiating the arbitration proceeding, it is required to prepare Terms of Reference (TOR).
Within such TOR, the following items shall be stipulated and signed by the parties to the dispute and arbitrator(s):
- 1- Subjeect of Dispute.
- 2- Name of Arbitrator(s).
- 3- The power of arbitrator(s) and its limitation.
- 4- Arbitration fees and costs.
- 5- Seat of Arbitration.
- 6- Language of arbitration.
- 7- Governing law (If agrred upon by the parties to the dispute).
- 8- Procedural Law (If agrred upon by the parties to the dispute).
Note: Such TOR is mandatory just under the ICC Arbitration Rules but under the UNCITRAL Arbitration Rules you are free to prepare TOR
For downloading the Modal Draft of TOR provided by International Chamber of Commerce, click the following tab:
Article 15 of CODAC Arbitration Rules:
15-1- Before constitution of Tribunal, each Party, arbitrator or arbitrators may request the Secretary to draft Arbitration Agreement.
15-2- The Arbitration Agreement shall contain the partculars of the Parties, the subject of arbitration, the nominated arbitrator(s), the governing laws, the Supreme Appointing Authority, the arbitration costs, the arbitrator’s fees, the arbitrator’s acceptance, the arbitration seat, the language of arbitration, and any information which is required in the opinion of Secretary and be signed at least by arbitrator(s) and the Secretary.
15-3- The provisions of the Arbitration Agreement shall not in any way violate the terms of these Rules unless an agreement to the contrary being permitted by these Rules.
For downloading the Modal Draft of TOR provided by CODAC, click the following tab: