Article 3 [ Framework provisions ]
Unless the parties otherwise agree,
- The tribunal shall consist of a sole arbitrator if the value of the subject matter in dispute does not exceed € 50,000 (or its equivalent in any other currency at the commencement of the arbitration) and of three arbitrators if the value of the subject matter in dispute exceeds the above amount.
- The place of the arbitration shall be Piraeus. Hearings shall be held at a venue to be determined by the tribunal.
- The arbitration shall be conducted in the Greek language, unless a party expressly disagrees in writing, in which case the arbitration shall be conducted in the English language. Any such disagreement is stated by the claimant in the document commencing the arbitration and by the respondent within 15 business days from the commencement of the arbitration.
- An appeal before an arbitral tribunal is not allowed.
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