ARBITRATION AGREEMENT

This Arbitration Agreement (the "Agreement") is made the ________day of ________2015.

BETWEEN:	[YOUR COMPANY NAME], (the "Party A") as represented by [DIRECTORS], a company registered under Companied and Allied Matters Act 1990, with its registered office located at No. 8 Maple Street, Lekki, Lagos:
AND:	[2nd COMPANY] (the "Party B"), a company registered under Companied and Allied Matters Act 1990, with its registered office located at No. 21 Oak Avenue, Yaba, Lagos:

In consideration of the terms and covenants of this agreement, and other valuable consideration, the parties agree as follows:

• MATTERS TO BE SUBMITTED TO ARBITRATION

All disputes and controversies of every kind and nature between the parties to this agreement arising out of or in connection with the general agreement to which this arbitration Agreement relates as to the existence, construction, validity, interpretation or meaning, performance, nonperformance, enforcement, operation, breach, continuance, or termination of the agreement shall be submitted to arbitration pursuant to the procedure set forth in this agreement.

• PROCEDURE

Either party may demand such arbitration in writing within [NUMBER] days after the controversy arises, which demand shall include the name of the arbitrator appointed by the party demanding arbitration, together with a statement of the matter in controversy.

• Within ………… days after such demand, the other party shall name [HIS OR HER] arbitrator, or in default of such naming, such arbitrator shall be named by the Arbitration Committee, and the two arbitrators so selected shall name a third arbitrator within [………] days or, in lieu of such agreement on a third arbitrator by the two arbitrators so appointed, a third arbitrator shall be appointed by the Arbitration Committee.
• The arbitration hearing shall be held at [PLACE OF HEARING] on [NUMBER] days' notice to the parties.
• The arbitration rules and procedures of [PARTICULAR TRADE, INDUSTRY, OR ASSOCIATION] shall be used in the arbitration hearing and the law of evidence of [STATE] shall govern the presentation of evidence at such hearing.
• The arbitration hearing shall be concluded within [NUMBER] days unless otherwise ordered by the arbitrators and the award on the hearing shall be made within [NUMBER] days after the close of the submission of evidence.
• An award rendered by a majority of the arbitrators appointed under this agreement shall be final and binding on all parties to the proceeding

during the period of this agreement, and judgment on such award may be entered by either party in the highest court, state or federal, having jurisdiction.