Arbitration. 9.1. All disputes that may arise in connection with the present Contract will be settled as far as possible by means of negotiations between the Parties

9.1. All disputes that may arise in connection with the present Contract will be settled as far as possible by means of negotiations between the Parties. If the Parties, do not come to an agreement, the matter is to be submitted for settlement to Arbitration, with its seat in Stockholm, Sweden.

9.2. The Party which wishes to refer the dispute to Arbitration shall notify the other Party by a registered letter stating there the name and the address of the arbitrator as well as the subject of the dispute, date and number of the Contract. Within 30 days of receipt of the above letter the other Party shall choose its arbitrator, and inform the first Party, of it by a registered letter stating the name and address of the arbitrator chosen.

9.3. If the Party notified of the dispute being submitted to arbitration fails to choose its arbitrator the latter will be appointed within 30 days by the President of the Chamber of Commerce in Stockholm, Sweden.

9.4. Within 30 days the arbitration shall choose an Umpire. If the arbitrators fail to agree upon the choice of the Umpire, the latter will be appointed by the President of the Chamber of Commerce in Stockholm, Sweden.

9.5. The award is to be issued by a majority of votes in accordance with the terms and conditions of the present Contract, and also the rules of Swedish Material Law.

Example 2.