Arbitral Award by Two Arbitrators and a Presiding Arbitrator (India)
This template is an arbitral award for cases involving two arbitrators and a presiding arbitrator, specifically focused on a dispute over a guarantee. It provides a formal structure for recording the findings of the arbitrators and the final decision of the presiding arbitrator on matters where the original arbitrators disagreed.
ARBITRAL AWARD BY TWO ARBITRATORS AND PRESIDING ARBITRATOR, THE ARBITRATORS DECIDING SOME MATTERS AND THE PRESIDING ARBITRATOR DECIDING ONLY MATTERS UPON WHICH ARBITRATORS DIFFER: CLAIM ON GUARANTEE
In the Matter of an Arbitration between [parties]?THIS IS THE AWARD of us _____________________________ [insert the name, address etc. of first arbitrator] [insert the name, address etc. of second arbitrator] and [insert the name, address etc. of Presiding Arbitrator] made the _________ day of ________.
WHEREAS:
By an agreement dated the _________ day of _______ and made between [insert the name, address etc. of creditor] of the one part and __________________ [insert the name, address etc. of surety] of the other part after reciting that on the _________ day of __________ the said [surety] signed and gave to the said [creditor] an instrument in writing guaranteeing and promising the said [creditor] that the said [surety] would be responsible to the said [creditor] for the due payment for any goods which he might after the date thereof sell and deliver on credit to one __________________ [insert the name, address etc. of debtor] and reciting that the said [creditor] alleged that he had afterwards sold and delivered on credit to the said [debtor] goods in respect of which there was then due to the said [creditor] a balance of Rs.________- and that differences had arisen between the parties thereto as to the liability of the said [surety] on the said guarantee the said [surety] disputing the value of the goods supplied to the said [debtor] after the date of the guarantee and also alleging that he was discharged by reason of fraudulent concealment by the said [creditor] before the guarantee was given and also by reason of time given to the said [debtor] after his term of credit had expired then it was agreed between the parties thereto that all matters in difference between them should be referred to the said [first arbitrator] and [second arbitrator] and if and so far only as to such matters as they should be unable to agree to their third arbitrator to be appointed by them in writing before entering on the reference. ?
The said [first arbitrator] and [second arbitrator] by writing under their hands dated the _______ day of ________ appointed the said [third arbitrator] to be the Presiding Arbitrator in accordance with the said agreement. ?
The said arbitrators and Presiding Arbitrator took upon themselves the burden of the said reference and have heard and considered the witnesses and evidence of both the parties and the said arbitrators have agreed as to some of the matters so referred to them but have been unable to agree as to other matters. ?
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