(a) Negotiations shall be conducted between the respective
representatives or officers of the parties; provided that, in the event
they fail to arrive at an amicable solution within sixty (60) days from the date their negotiations commence, then a party may send the other party written notice for the purpose of having the matter finally settled by arbitration. Arbitration shall be conducted in (venue/country of choice) under the law of (law of choice). The decision of the arbitrators shall be final and binding on both parties. The cost of arbitration shall be borne by the party or parties whom the arbitral tribunal shall designate as being liable for said costs.
(b) During the course of arbitration, this Agreement shall continue to be
performed except for the matters which the parties are disputing and which are undergoing arbitration.