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In the arbitration agreement, the parties undertake to submit a specifically defined legal dispute, which is subject to the parties’ ability to contract, to the exclusion of the state courts, to an arbitration court admissible under the forms of the law and to have it decide with legal effect. The arbitration agreement is thus a purely private law transaction with negative publicity effect insofar as it involves the waiver of the right to legal protection.

Term-Nr.: 87

German: Schiedsvertrag (720)

Source: LK-Lötscher, 11.05.2020

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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