Gift Importers has a contract with a Philippine government exporting agency for the purchase of numerous handmade artefacts.Since neither party was comfortable having the courts of the other party's country adjudicate any disputes between them,the contract contains a clause that identifies the procedure by which a third party acceptable to both would settle any disputes.
-This procedure is known as commercial arbitration.

Question

Quizplus · Accepted Answer

The clause in the contract that identifies the procedure by which a third party acceptable to both parties would settle any disputes is commercial arbitration.

Gift Importers Has a Contract with a Philippine Government Exporting