Any controversy or claim arising out of this contract, its execution, liquidation and interpretation, will be resolved with the assistance of a mediator of the Arbitration and Mediation Center of the Ecuadorian American Chamber of Commerce. In case, the conflict its not resolved through this procedure the parties agree to submit the resolution to an Arbitral Tribunal of the Ecuadorian American Chamber of Commerce. The Tribunal shall be determined in accordance with the Arbitration and Mediation law and the rules of the Arbitration and Mediation Center of the Ecuadorian American Chamber of Commerce and to the following rules and norms:
The number of arbitrators of the Arbitral Tribunal shall be (odd number), designated by the Arbitration and Mediation Center of the Ecuadorian American Chamber of Commerce according to the Arbitration and Mediation law. The Tribunal must rule by (law or equity).
The Arbitral process is confidential.
The place of arbitration shall be at the Arbitration and Mediation Center of the Ecuadorian American Chamber of Commerce.
The language (s) of the arbitration shall be_____