Arbitral Award for Payment for Goods Supplied (India) by OLL
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Arbitral award of payment for goods supplied
I AWARD and adjudge that the said [one party] was and is indebted to the said [other party] in respect of goods namely [short description of such goods] sold and delivered in the sum of Rs. __________ and that the said [one party] do pay the said sum of Rs. ___________ to the said [other party] at ________ on the _________ dayof _________ next [between the hours of ________ and ____________ of the clock in the [forenoon]].
I AWARD and adjudge that the said [one party] was and is entitled to recover from the said [other party] Rs. ______________ as the price of goods namely [short description of such goods] sold and delivered less the sum of Rs.____________ which I award and adjudge as due for breach of warranty in respect of the said goods and I direct that the said [other party] do pay the difference viz. Rs.__________ to the said [one party] at ___________ on the ___________ day of _________________ next [between the hours of _________ and _________________ of the clock in the [forenoon]].
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This document is a template for an arbitral award concerning the payment of supplied goods. It provides a formal structure for an arbitrator to record their decision regarding outstanding debts for goods sold and delivered, including adjustments for any breaches of warranty.
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About this template
What is this template?
This is a formal arbitral award issued by an arbitrator to settle a dispute over goods sold and delivered. It is not a contract or a settlement agreement but a binding decision that specifies the exact sum in Rupees and the delivery location for payment. It contains specific placeholders for offsetting amounts due to a breach of warranty.
When should you use it?
Use this document when an arbitration process has concluded and the arbitrator needs to issue a final ruling on money owed for goods. Use a Settlement Agreement instead if the parties reach a voluntary compromise before the arbitrator makes a final ruling.
What's inside
| Clause | Name | What it does |
|---|---|---|
| Paragraph 1 | Debt and Payment Instruction | Adjudges that one party is indebted for goods sold and orders payment of a specific sum in Rupees by a deadline. |
| Paragraph 2 | Warranty Offset and Net Recovery | Calculates the final amount owed by deducting sums due for breach of warranty from the total price of goods delivered. |
Who it's for
- an arbitrator in India issuing a final decision on a commercial debt
- a seller seeking a formal award for unpaid goods after arbitral proceedings
- parties in a supply dispute requiring a written record of an arbitral payout
How long it runs and how it's signed
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