1. Only the natural person, who has the capacity to exercise its rights, or the representative of the legal person, who is authorized to conclude the agreement on arbitration, may enter into an agreement on arbitration, otherwise the agreement shall be null and void. 2. The agreement on arbitration may not be concluded with respect to the matters where conciliation is not allowed. 3. In the circumstances under which this law permits the parties to opt for the procedure to be adopted on a specific matter, any of the parties may authorize a third party to choose or decide on such procedure. Within the meaning of this Article, a third party is: 4. Any natural person or Arbitral Entity based either in the State or abroad.Unless otherwise agreed by the parties, the Arbitration Agreement shall not be terminated by the demise or expiration of one of the parties or. It may be enforced by or against the legal successor of such party.
Interpretation and application must be checked against the official text and current version.