Reference of a Dispute to an Arbitrator (India)

REFERING DISPUTE TO ARBITRATOR

This Agreement made between 

Mr………………………………..

Mr……………………

resi_________________________________ hereinafter referred to as " the Party of the First Part, party____________________ (which expression shall unless contrary to the context or meaning thereof include his successors, executors, administrators, legal representatives and assigns) 

And 

Mr…………………………………

Mr………………………….

Resi____________________________________ hereinafter referred to as "second part, Party of the Second Part" (which expression shall unless contrary to the context or meaning thereof include his successors, executors, administrators, legal representatives and assigns). 

The parties hereto are collectively referred to as "the parties". 

Whereas 

1. Above statues parties entering an agreement dated______________ (herein after referred to as the said Agreement) bide which it was agreed that First part, Party shall place order and Second part, Party shall supply goods on such terms and conditions as laid in said agreement. 

2. Controversies and differences emerging between the said parties concerning interpretation of some of the clauses of the said agreement , which parties have consented to refer their controversies and differences for arbitration of Shri_____________on such terms and conditions as hereinafter statues. 

Now This Agreement Witnesses As Under:

1. All controversies and differences between the parties hereto concerning interpreting of some of the clauses of the said agreement are hereby referred to the conclusive determination and award of the said arbitrator Mr…………………………………………………….. 

2. Arbitrator shall be empowered taking such evidence and making such enquiries, as he may deem fit. Arbitrator shall be empowered to administer both to the parties and witnesses before him. Having served notice to parties who neglects, fails for attending reference, arbitrator shall have power to hearings ex-parte. Arbitrator shall record by keeping minutes of hearings of arbitration and taking notes of evidence of witnesses as may be lead by any party to which arbitrator can justly examine. Arbitrator shall pass award within _____________months after entering the reference and the award made by the arbitrator shall bind and concluding on the parties. If award is not passed by the arbitrator within fix stipulated period or the arbitrator dies, or can not act due to illness or denies to act before making award, this agreement shall become nullity and documents filed with the Arbitrator shall be returned to the party producing the same. Fee of Arbitrator shall be Rs._________ which fees and costs of this reference and other expenses relating to the arbitration shall be borne by both the parties in such proportions as inserted arbitrator. Arbitration herring shall at ……………………………………. English shall be used in all written documents laid in arbitration hearings. 

3. Parties agreeing for cooperating with arbitrator by furnishing the arbitrator all information's/ explanations as needed by him. 

4. This submission to arbitration shall be based on enactments of the Arbitration and Conciliation Act, 1996 or any mandatory alteration thereof. 

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