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The resolution of a dispute between two parties through a voluntary or contractually required hearing and determination by an impartial third party. The impartial third party is called the arbiter or arbitrator and is chosen by a higher or disinterested body, or by the two parties in dispute. In the United States, the main arbitration body is the American Arbitration Association; 1633 Broadway, Floor 10; New York, New York 10019; Tel:  (212) 716- 5800; Fax:  (212) 716-5905
Internationally, the main arbitration body is the International Chamber of Commerce (ICC); 38 Cours Albert lcr; 75008 Paris, France; Tel:  49-53-28-28; Fax:  49-53-28-59
For the U.S. representative of the ICC, contact: U.S. Council for International Business; 1212 Avenue of the Americas; New York, NY 10036 USA; Tel:  (212) 354-4480; Fax:  (212) 575-0327 - arbitra¬tion clause - American Arbitration Association; Interna¬tional Chamber of Commerce
A contract clause included in many international contracts stating for example...
Any controversy or claim arising out of or relating to this contract, or the breach thereof, shall be settled by arbitra¬tion in accordance with the Commercial Arbitration Rules of the American Arbitration Association and judgment upon the award rendered by the arbitrator(s) may be en¬tered in any court having jurisdiction thereof - Arbitration - American Arbitration Association; International Chamber of Commerce.
- law, contracts, insurance
A clause in a contract or insur¬ance policy that requires any dispute between parties to the contract to be settled by an independent arbiter.
A one-digit code that specifies the location of an ocean cargo container. The ten codes are...
(a) - Unreported - Unreported
(b) - Great Lakes/ U.S. East Coast - Great Lakes/USEC
(c) - U.S. Gulf / North Coast South America - US Gulf/NCSA
(d) - North Pacific / West Coast South America - North Pacific/WCSA
(e) - East Coast South America / West Africa - ECSA/WAfrica
(f) - UK/Continent / Scandinavia - UK/Cont/Scandinavia
(g) – Mediterranean / BIack Sea - Med/Black Sea
(h) - Arabian Gulf / South Africa/India (Including Middle East Gulf) – AG / South Africa/India
(i) – Indonesia /Australasia – Indonesia / Australasia
(j)-Far East - Far East
A term indicating that goods offered for sale are without warranty or guarantee. The purchaser has no re¬course to the vendor for quality or condition of the goods.
As Is Where Is
A term indicating that goods are offered for sale without warranty or guarantee in their current location. The purchaser has no recourse to the vendor for quality or condition of the goods.
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