A validly concluded arbitration agreement delegating the power to hear and decide a dispute on arbitrators, or a permanent arbitration court, constitutes one of the main preconditions of an arbitration.
Despite the good relationships currently prevailing between the parties, a potential for a future conflict should always be borne in mind. Where possible, an arbitration agreement is therefore included in the main contract between the parties as one of its provisions. In this case, the relevant arrangement is called “arbitration clause”.
An arbitration clause based on which a dispute should be heard and decided before the International Arbitration Court of the Czech Commodity Exchange may be, for example, as follows:
Any and all disputes arising out of or in connection with this Agreement shall be finally resolved in accordance with the Rules of the International Arbitration Court of the Czech Commodity Exchange, which is a permanent arbitration court under Section 13 of Act No. 216/1994 Coll., on arbitral proceedings and enforcement of arbitral awards, by one or three arbitrators appointed in accordance with the Rules.
An arbitration agreement/clause must be executed in writing.
The requirement for a written form is also met if the arbitration agreement is made by electronic means that allow for recording its contents and identifying the persons who executed the arbitration agreement.
An arbitration clause is also validly concluded where it constitutes a part of the terms and conditions of the main contract to which the clause pertains if a written draft of the contract was accepted by the other party otherwise than in writing, but in a manner not giving rise to any doubts as to the acceptance and its contents.