ARBITRATION CLAUSE

It is hereby noted and agreed that the Insured and The Insurer shall settle the dispute through Arbitration Ad Hoc as follows:

  1. The arbitration Ad Hoc consists of three arbitrators. The Insured and the Insurer each shall appoint on arbitrators within 30 (thirty) days from the date of receipt of the written notification, then the two arbitration shall appoint the third arbitrator within 14 (fourteen) days from the date of appointment of the second arbitration Ad Hoc.
  1. Should there be any disagreement as to the appointment of arbitrator(s) and or the two arbitrators fail to appoint the third arbitrator, then the Insured and or the Insurer could request the chairman of the court (Ketua Pengadilan Negeri) where the defendant domiciles to appoint the arbitrator(s) and or the umpire
  1. The arbitrator shall examine the case and make an award within 180 (one hundred and eighty) days from the date of the formation of the Arbitration Ad Hoc. The period of examination of the case could be extended upon the consent of both parties and if it is deemed necessary by the Arbitration Ad Hoc.
  1. The Arbitration award is final, binding and enforceable for both parties, the Insured and The Insurer. Should the Insured and or the Insurer fail to comply with the award shall be executed under the request of the other party, the award shall be executed under the order of the Chairman of the court (Ketua Pengadilan Negeri) where the defendant domiciles.
  1. Matters which are not provided and or not sufficiently provided under this clause shall be subject to the provisions of the Act of the Republic Indonesia NR. 30 dated August 12, 1999 regarding the Arbitration and Alternative Dispute Resolution

About the Author

has written 1747 stories on this site.

Write a Comment

Gravatars are small images that can show your personality. You can get your gravatar for free today!

*

Copyright © 2018 AHLIASURANSI.com. All rights reserved. Managed by Imam MUSJAB
Powered by WordPress.org, Custom Theme and ComFi.com Calling Card Company.