APPLY FOR ARBITRATION

Before proceeding, the parties will need to agree to arbitrate. This can be done in one of two ways:

• there may be a clause in the contract under which the parties’ dispute has arisen which states that the parties have agreed to arbitrate, for example:

Any dispute or difference arising out of or in connection with this contract, or the subject matter of this contract, including any question about its existence, validity or termination, will be referred to and finally resolved by arbitration in accordance with the Arbitration Rules of the New Zealand International Arbitration Centre.

or

• parties to an existing dispute, whether or not there is an arbitration clause in any underlying contract, may agree to refer that dispute to Arbitration under the Arbitration Rules of the New Zealand International Arbitration Centre by signing the Arbitration Agreement at Appendix 2 to the NZIAC Arbitration Rules.

NOTE: if a party is relying on the Arbitration Agreement found in a clause in the underlying contract, they will need to serve a Notice of Arbitration on the other party or parties to the dispute prior to applying for Arbitration. This is not required where the parties have signed the NZIAC Arbitration Agreement.