I think we have everything in the contract. Shall we sign it?
Wait a minute. I think we have missed an important point. We should include an arbitration clause in the contract.
I believe we can solve disputes through an amicable negotiation.
I hope so. too. But I still think the provision of arbitration is of great importance to both of us.
All right. I agree with you. But where do we hold arbitration?
I suggest the arbitration be held in a third country.
It sounds reasonable. The clause should be like this - any disputes arising from the execution of this contract shall be settled in a friendly way. If no settlement can be reached through consul - nation and conciliation, the disputes shall be submitted for arbitration by a mutually nominated arbitrator. The arbitrator's decision on the dispute is final and binding on the both parties.
Ok.