What other elements ought to be incorporated in an arbitration agreement?
The agreement should stipulate which arbitration rules are to apply e.g. the Norwegian Arbitration Act of 2004, the ICC arbitration rules, UNCITRAL arbitration rules, the rules of Arbitration Institute of the Oslo Chamber of Commerce or other such rules. In addition it is recommended that the venue of the arbitration hearing, the number of arbitrators, the language of the proceedings and the law applicable to the dispute be agreed and included. It is also recommended that a confidentiality undertaking is included, covering all information disclosed during the arbitral proceedings together with any decision or award made.
