Any dispute arising out of or under this contract shall be settled by the CHAMBRE ARBITRALE DE PARIS (61, Bourse de Commerce, 2, rue de Viarmes, 75040 Paris cedex 01, tél : 01.42.36.99.65, fax : 01.42.36.08.54, télex 214131 F, e-mail : cap@arbitrage.org), in accordance with the CAP-ACAREF Rules of arbitration , of which parties hereto declare to be cognisant which they hereby accept, those Rules being those effective at the date of the application for arbitration.