"All disputes which may arise out of or in relation with this contract including disputes concerning its validity, interpretation or termination of these contracts shall be settled exclusively by an Arbitration Court..
The plaintiff shall be entitled to choose between:
(a) the Arbitration Court at the Bulgarian Chamber of Commerce and Industry if the defendant is a Bulgarian foreign trade Organisation, resp. the Arbitration Court at the Federal Commercial Chamber if the defendant is an Austrian enterprise, or
(b) Arbitration ad hoc in accordance with the rules for Arbitration of the Economic Council for Europe of the Organisation of the United Nations or the Rules of Arbitration of the UN Commission for International Trade Law (UNCITRAL)
In such a case the competent body of the arbitration court in the country of the defendant mentioned in letter "a" shall act as an appointing authority pursuant to the Rules of the arbitration court chosen by the plaintiff.
The defendant may file counter claims based on the same contract at the arbitration court chosen by the plaintiff pursuant to the letters "a" and "b".
All arbitration awards to be rendered in accordance with this arbitration clause shall be final binding upon both parties."
The brief text of this arbitration clause shall be:
"All disputes which may arise out of or in relation with this contract including disputes concerning its validity, interpretation or termination of this contract shall be settled by an Arbitration Court pursuant to Art. 1 of the Agreement between the Bulgarian Chamber of Commerce and Industry and the Austrian Federal Commercial Chamber in the field of commercial arbitration."