The costs of the reference and of the award shall be in the discretion of the arbitrator, arbitrators, or umpire making the award. And it is hereby expressly stipulated and declared that it shall be a condition precedent to any right of action of suit upon this Policy that the award by such arbitrator, arbitrators or umpire of the amount of the loss or damage if disputed shall be first obtained. It is understood and agreed that the place of arbitration shall be Thailand.