Agreement for Reference to Arbitration
| Updated at | March 2010 |
AGREEMENT FOR REFERENCE TO ARBITRATION
BY
_________________________
AND
_________________________
TO
____________________(ARBITRATOR)
THIS AGREEMENT FOR REFERENCE TO ARBITRATION made at _____________ this _________________ day of _________________ BETWEEN ______________________ a Company incorporated under the Companies Act, 1956 having its registered office at ____________________________________________ hereinafter referred to as Company A of the First Part AND ____________________ a Company incorporated under the Companies Act, 1956 having its registered office at ____________________________________________ hereinafter referred to as Company B of the Second Part and reference to the parties hereto shall unless repugnant to the context or meaning thereof shall mean and include their respective successors and assigns.
WHEREAS the parties hereto had entered into a contract dated ___________ in relation to ___________________________;
AND WHEREAS disputes and differences have arisen between the parties hereto;
AND WHEREAS in accordance with clause __________ of the Agreement dated _____________ the parties hereto agree to refer and do hereby refer all the disputes and differences between them to the sole arbitration of Mr._________ in whom the parties hereto have full faith and confidence and who may resolve the disputes and differences in such a manner as he deems fit with full power and absolute discretion after hearing the parties personally with or without the presence of any legal representatives and otherwise as the learned Arbitrator may decide.
NOW THIS AGREEMENT FOR REFERENCE TO ARBITRATION WITNESSETH:
1) The parties hereto do hereby refer their disputes and differences to the sole arbitration of Mr. _______________________.
2) The learned Arbitrator shall have summary powers and shall have full discretion to devise the procedure to be followed by him including arranging of services of Auditors, Chartered Accountants, Valuers, Architects, etc. The learned Arbitrator shall have the authority to determine all the disputes referred to him.
3) It shall be open to the learned Arbitrator to dispense with filing of formal pleadings. He shall have full power and absolute authority to give such interim order or direction as he deems fit and proper. He shall be entitled to fix his fees and the parties hereto shall deposit such amounts as may be directed by him.
4) The learned Arbitrator shall make and public his Award or Awards within four...
To continue reading
Request your trial