¶¶Òõ¶ÌÊÓƵ

The Oral Arbitration Agreement template is designed for use in South Africa where parties prefer to establish their arbitration arrangements verbally while maintaining a record of the agreed terms. This document type is particularly useful in business contexts where written contracts are not customary or practical, but parties still wish to have a clear framework for dispute resolution. The template ensures compliance with the South African Arbitration Act 42 of 1965 and includes essential elements such as arbitrator appointment procedures, scope of arbitrable disputes, and procedural rules. It's commonly used in traditional business settings, informal sector transactions, and situations where cultural or practical considerations favor oral agreements over written contracts. The document serves as a reference point for the verbal agreement while ensuring that all necessary legal requirements for an enforceable arbitration agreement are addressed.

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

2. Background: Context of the relationship between the parties and the purpose of the arbitration agreement

3. Definitions: Key terms used in the agreement

4. Agreement to Arbitrate: Clear statement of the parties' intention to submit disputes to arbitration

5. Scope of Arbitration: Description of which disputes are subject to arbitration

6. Appointment of Arbitrators: Process for selecting the arbitrator(s)

7. Arbitration Rules: The procedural rules that will govern the arbitration

8. Seat of Arbitration: The legal jurisdiction where the arbitration will be seated

9. Language: The language in which the arbitration will be conducted

10. Costs: How the costs of arbitration will be allocated

11. Confidentiality: Obligations regarding confidentiality of the arbitration proceedings