ARBITRATION AGREEMENT

The parties have agreed to settle disputes related to the contract in arbitration, or such agreement is stipulated in the contract.

For example: Any dispute related to this contract shall be settled in Mongolian International Arbitration Center of Mongolian National Chamber of Commerce and Industry, in accordance with its Rules of Procedure.

FILING A CLAIM

Claims shall be submitted to the Arbitration in writing and shall meet the following requirements:

1. Claims must be submitted to the Mongolian International Arbitration Center, and the claim must include the name, address, and phone number of the claimant and respondent,
2. The contract that is the ground for the dispute and other relevant evidences,
3. If an authorized representative is involved, a power of attorney, and
4. Proof of payment of arbitration costs,
5. The claim and documents attached to it shall be original or copy certified by a notary when submitted to the Arbitration.

All documents must have 4 copies excluding the original.

ARBITRATION TRIBUNAL

The parties have right to appoint an arbitrator from the list of arbitrators of the Mongolian International Arbitration Center within 30 days from the date of receipt of the arbitration initiation notice. If the party did not appoint an arbitrator within the stipulated period, the presiding arbitrator of the tribunal shall appoint the arbitrator.

PRELIMINARY HEARING OF THE ARBITRATION

The following issues shall be agreed upon with the parties at the preliminary hearing to determine the procedures for arbitration proceedings:

1. Whether there is an arbitration agreement between the parties,
2. Whether the dispute is under the arbitral jurisdiction,
3. Place of arbitration proceedings and hearings,
4. Legal norms applicable to dispute resolution and proceedings,
5. Language of the arbitration,
6. Basic and additional costs of arbitration,
7. Deciding requests regarding summoning witnesses, appointing experts, involving interpreters and translators, and providing evidences,
8. Whether the arbitration proceedings shall be open or closed, and
9. The date of the arbitration hearing.

ARBITRATION HEARING ON THE MERITS

The arbitration tribunal shall conduct the arbitration hearing and issue an award in accordance with the procedural rules agreed upon by the parties, the Law on Arbitration and the Rules of Procedure.

Note: Please refer to “Rules of Procedure” for details of the arbitration proceedings.