Doctrine of privity limits contractual and arbitration rights to contracting parties, subject to narrow exceptions. The Doctrine of Privity provides that contractual rights and liabilities attach only to the contracting parties, preventing third parties from enforcing or being bound by contract terms, subject to narrow exceptions such as trusts, family arrangements and assignments; the same principle governs arbitration agreements, which ordinarily bind or benefit only the parties and is reflected in the UNCITRAL Model Law.