Form of Agreement for Reference to Three Arbitrators (India)
This is a legal template for a partnership dispute resolution agreement used to refer conflicts between business partners to a panel of three arbitrators. It outlines the scope of the arbitrators' authority, including the valuation of assets, settlement of liabilities, and the binding nature of the final award under Indian law.
Form of Agreement for Reference to Three Arbitrators
This deed of agreement made on this _________, 2000 between:
1. Shri PL, aged about ___ years s/o Shri SS r/o ___________________, Delhi, hereinafter called the 1st party.
2. Shri KL, aged about ___ years s/o Shri SS r/o _________________, hereinafter called the 2nd party.
3. Shri CL, aged about ___ years s/o Shri SS r/o _____________, hereinafter called the 3rd party.
Whereas the above parties are carrying on business of general
merchandise in partnership under name and style M/s. __________________, at _______________ since ________, 2000.
a. And whereas share profit or loss in the firm is : 1st party 50%, 2nd party 30% and 3rd party 20%.
b. And whereas all the three parties are active partners in the partnership business.
c. And whereas some disputes have arisen among the parties above named and it has become impossible to carry on business under partnership
d. And whereas the parties hereto have agreed to refer the matter to the arbitration mentioned here under :
i Mr. PK s/o Mr. KP, r/o _________________ .
ii Mr. PK s/o Mr. RP, r/o __________________, and
iii Mr. SK, s/o Mr. JN r/o ___________________.
Now this Agreement Witnesses as Under:
1. The arbitrators are entitled to decide and determine the following matter of disputes, which are referred to them for final determination and award.
a. To determine the position of assets and liabilities of the firm.
b. To prepare the list of sundry debtors and creditors
c. To divide the assets and liabilities according to the share of the parties.
2. That the arbitrators shall enter upon the reference with effect from ___________ and shall deliver their award within 4 months.
3. That the award given by the arbitrators shall be final and binding on the arbitrators.
4. That the award of the arbitrators shall be final and binding on heirs, legal representatives and assignees of the parties in case of death of any of the party during the course of arbitration proceedings.
5. That Mr. RN, the 1st arbitrator shall be the President of the arbitration tribunal who will arrange the sitting for arbitration proceedings.
6. In case of difference of opinion between the arbitrators , the decision of the majority shall be final.
7. The arbitrators shall fix up the date of hearing and issue notices to the parties for appearance.
8. That if the parties do not turn up on the date fixed for hearing, the arbitration will proceed ex-parte.
9. That this agreement shall be binding on the legal representatives, heirs, and assignees in case of death of any of the parties.
10. If the arbitrators think it proper, they shall appoint an accountant for preparation and finalisation of accounts on fixed remuneration and shall include the remuneration in the cost of arbitration award.
This is a preview. The full template is free on GitLaw.
5.0 out of 5 on Google
Read reviewsAs seen in
Frequently asked questions
A template isn't binding on its own - like any contract, it becomes binding once it's properly completed and signed. Templates in our curated library are professionally drafted for US or UK law; review any template before you sign it.
Yes. Chat with GitLaw to edit any section, or make changes directly in the editor.
Yes, read about team plans here.
Describe what you need in the chat and GitLaw will draft it for you.
Templates in our curated library are professionally drafted for US or UK law. The wider library comes from the GitLaw community and public sources - a solid starting point, but check any template fits your situation before you rely on it.
Mostly US and UK law. Some templates use general commercial terms that work across jurisdictions, and many note which law they're written for.
It depends on the situation. Templates work well for routine business agreements. For anything involving significant money, complex IP, employment, or areas you're unsure about, it's worth getting professional advice before you sign. GitLaw provides templates and tools, not legal advice.
Open any template in GitLaw and describe the change you want in the chat — 'make clause 4 mutual' or 'add a 30-day notice period', for example. GitLaw drafts the revised language and shows it as a suggested edit. You accept, reject, or keep editing from there.
Yes. Upload a Word, PDF, or Markdown file and GitLaw will open it in the editor. You can review, edit, or chat with GitLaw about it the same way you would with any template from the library.
Trusted by 5,000+ businesses
From template to signed, in one place
Every template opens in an editor with an AI agent alongside it.
Open
Pick a template and open it. Nothing to download, and no credit card to start.
Free to open
Edit with AI
Describe your situation in chat and the agent adapts the wording, clause by clause.
Tracked changes you can review
Send and sign
Share it for negotiation, then collect signatures without leaving GitLaw.
eSign included
Built for your legal work,
with practicing lawyers
Trained on 5,500+ clauses and specialist areas of law. Built with a standards committee of independent lawyers.
As seen in
Ready to get started?
No sales calls, no credit card. Just chat with GitLaw.
GitLaw provides templates and tools, not legal advice. Templates are a starting point, not a substitute for advice on your situation - for anything significant, speak to a qualified lawyer.