This one just doesn't work. The first sentence tells us when a party CANNOT be compelled to submit to general arbitration. It says nothing about when a party CAN be compelled. The part about contractual basis describes a necessary, but not a sufficient condition. Logically, we can translate it as follows:
No contractual basis --> No compelled arbitration
Compelled arbitration --> Contractual basis
The second sentence does nothing to help, as it describes a type of arbitration for which
...
No contractual basis --> No compelled arbitration
Compelled arbitration --> Contractual basis
The second sentence does nothing to help, as it describes a type of arbitration for which
...
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