Document background
The Arbitration Submission Agreement is utilized when parties have an existing dispute and agree to resolve it through arbitration, rather than litigation in Danish courts. This document is particularly relevant when there was no pre-existing arbitration clause in the original contract, or when parties wish to modify or clarify arbitration terms for a specific dispute. The agreement must comply with the Danish Arbitration Act and typically includes detailed provisions about the dispute's scope, arbitrator selection, procedural rules, and applicable law. It's essential for establishing the jurisdictional basis for arbitration and ensuring the eventual award will be enforceable both within Denmark and internationally under the New York Convention. The document serves as the foundational agreement for the entire arbitration process and must be carefully drafted to address all crucial aspects of the proposed arbitration proceedings.
