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Applicable Law Arbitration Agreement

Applicable Law Arbitration Agreement Template for Nigeria

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Key Requirements PROMPT example:

Applicable Law Arbitration Agreement

"I need an Applicable Law Arbitration Agreement for a joint venture between a Nigerian oil company and a Chinese investor, with arbitration to be conducted in Lagos under Nigerian law, and specific provisions for emergency arbitration in case of urgent operational disputes."

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Document background
The Applicable Law Arbitration Agreement is a crucial document for parties engaging in commercial transactions or business relationships in Nigeria who wish to have their disputes resolved through arbitration under Nigerian law. This agreement becomes particularly important in the context of Nigeria's growing commercial sector and its position as Africa's largest economy. The document addresses key aspects required under the Nigerian Arbitration and Conciliation Act, including the choice of Nigerian law as the governing law, arbitration procedures, appointment of arbitrators, and enforcement provisions. It is designed to provide clarity and certainty in dispute resolution while ensuring compliance with Nigerian legal requirements and international arbitration standards. The agreement is commonly used in various commercial contexts, from joint ventures to international trade agreements, where parties seek a structured and efficient dispute resolution mechanism within the Nigerian legal framework.
Suggested Sections

1. Parties: Identification and details of all parties entering into the arbitration agreement

2. Background: Context and circumstances leading to the arbitration agreement

3. Definitions: Key terms used throughout the agreement

4. Agreement to Arbitrate: Core agreement to submit disputes to arbitration, including scope of arbitrable matters

5. Applicable Law: Specification of Nigerian law as the governing law and reference to relevant legislation

6. Seat of Arbitration: Designation of the arbitration seat within Nigeria

7. Arbitration Rules: Rules governing the conduct of arbitration proceedings

8. Appointment of Arbitrators: Process for selecting and appointing arbitrators

9. Language of Arbitration: Specification of English as the language of proceedings

10. Confidentiality: Obligations regarding confidentiality of proceedings and materials

11. Costs: Allocation of arbitration costs and expenses

12. Enforcement: Provisions regarding enforcement of arbitral awards

Optional Sections

1. Emergency Arbitrator: Provisions for appointment of emergency arbitrator for urgent relief

2. Multi-party Provisions: Special provisions for cases involving multiple parties

3. Interim Measures: Procedures for obtaining interim or conservatory measures

4. Expert Determination: Provisions for technical matters to be referred to expert determination

5. Med-Arb Clause: Provision for attempting mediation before proceeding to arbitration

6. Technology and Virtual Hearings: Provisions for conducting virtual hearings and using technology

7. Appeals: Provisions regarding appeals of arbitral awards where permitted

Suggested Schedules

1. Schedule 1: Arbitration Rules: Detailed procedural rules governing the arbitration

2. Schedule 2: Party Details: Complete contact information and details of all parties

3. Schedule 3: Arbitrator Qualifications: Required qualifications and experience for arbitrators

4. Appendix A: Notice Requirements: Forms and procedures for serving notices under the agreement

5. Appendix B: Fee Schedule: Schedule of arbitration fees and costs

6. Appendix C: Timeline: Standard timeline for various stages of the arbitration process

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Oil and Gas

Banking and Finance

Manufacturing

Construction

Telecommunications

Mining

Real Estate

Infrastructure

Technology

Agriculture

Maritime

Aviation

Healthcare

Energy

International Trade

Relevant Teams

Legal

Compliance

Commercial

Corporate Affairs

Risk Management

Business Development

Operations

Finance

Project Management

International Business

Contracts Administration

Relevant Roles

Legal Counsel

Chief Legal Officer

Compliance Officer

Contract Manager

Business Development Manager

Project Manager

Commercial Director

Risk Manager

Corporate Secretary

Chief Executive Officer

Chief Operating Officer

Investment Manager

General Counsel

Head of Legal

Director of Operations

Chief Financial Officer

Industries
Arbitration and Conciliation Act (Cap A18, Laws of the Federation of Nigeria 2004): The primary federal legislation governing arbitration in Nigeria, providing the framework for both domestic and international arbitration proceedings
Constitution of the Federal Republic of Nigeria 1999: Provides the constitutional framework affecting the enforcement of arbitral awards and fundamental rights that may impact arbitration proceedings
New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards 1958: International treaty to which Nigeria is a signatory, governing the enforcement of foreign arbitral awards
Lagos State Arbitration Law 2009: State-specific arbitration law relevant for arbitration proceedings seated in Lagos State, providing additional procedural rules and requirements
Evidence Act 2011: Governs the admissibility of evidence in legal proceedings, including arbitration, and may be relevant to the conduct of arbitration proceedings
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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