5(1)An arbitration agreement may be an independent agreement or part of another agreement.

5(2)If the parties to an arbitration agreement make a further agreement in connection with the arbitration, it shall be deemed to form part of the arbitration agreement.

5(3)An arbitration agreement need not be in writing.

5(4)An agreement requiring or having the effect of requiring that a matter be adjudicated by arbitration before it may be dealt with by a court has the same effect as an arbitration agreement.

5(5)An arbitration agreement may be revoked only in accordance with the ordinary rules of contract law.