(1) Any dispute, controversy or claim arising out of or in connection with this Agreement, including any dispute concerning its existence, validity, interpretation, performance, breach, termination or nullity, shall be finally settled by ad hoc arbitration by a sole arbitrator.
(2) The sole arbitrator shall be Liviu-Cornel POPA, professionally domiciled at 58B-C5, C1 Str., Mamaia-Sat (Năvodari), România. If the nominated arbitrator is unable or unwilling to accept or perform the appointment, the sole arbitrator shall be appointed, upon the request of either party, by the competent Romanian court at the seat of arbitration, in accordance with Art. 561 of the Romanian Code of Civil Procedure.
(3) The seat of arbitration shall be [city, Romania]. The language of the arbitration shall be English. The arbitration shall be conducted under the Rules of Procedure applicable where a sole arbitrator is appointed, version [edition/date], attached to this Agreement, supplemented by the mandatory provisions of the Romanian Code of Civil Procedure applicable to arbitration.
(4) This Agreement shall be governed by the substantive law of [state]. The arbitral award shall be final and binding upon the parties. The parties undertake to comply with the award without undue delay and agree that it may be recognized and enforced in any competent jurisdiction.
(5) The arbitral proceedings, submissions, evidence and award shall be confidential, except to the extent disclosure is required by law or is necessary for the annulment, recognition or enforcement of the award.