ABSTRACT
This chapter details the requirements for a valid and effective arbitration agreement. It focuses on the issues particularly associated with multi-party arbitration. If parties agree to refer disputes to arbitration, they must ensure that the agreement is in writing. One of the most important things to remember about non-institutional arbitration is that there is no arbitration institution to assist the parties if difficulties arise and it may well be that the state courts may not offer useful assistance either. The governing law of the contract and that of the arbitration agreement should always be specified in order to avoid arguments later as to what they are. It is usually appropriate to have the language of the arbitration follow that of the contract, and that in which the business relationship has been conducted. This will reduce the amount of translation work that has to be done, which is usually very costly.
