This document outlines an agreement between two parties, A and B, to refer a dispute over a broken real estate contract to arbitration. Specifically:
- Party A agreed to sell a house to Party B by a certain deadline, but the sale was not completed on time, resulting in a dispute over which party broke the contract.
- Parties A and B now agree to refer this dispute to arbitration by two arbitrators (one chosen by each party) and an umpire in case the arbitrators disagree.
- The arbitrators will conduct proceedings, hear evidence from both sides, and aim to make an award by a specified deadline. If they cannot agree, they will submit separate awards to the ump
Original Description:
Original Title
Precedent No. 6-Reference to two Arbitrators and an Umpire
This document outlines an agreement between two parties, A and B, to refer a dispute over a broken real estate contract to arbitration. Specifically:
- Party A agreed to sell a house to Party B by a certain deadline, but the sale was not completed on time, resulting in a dispute over which party broke the contract.
- Parties A and B now agree to refer this dispute to arbitration by two arbitrators (one chosen by each party) and an umpire in case the arbitrators disagree.
- The arbitrators will conduct proceedings, hear evidence from both sides, and aim to make an award by a specified deadline. If they cannot agree, they will submit separate awards to the ump
This document outlines an agreement between two parties, A and B, to refer a dispute over a broken real estate contract to arbitration. Specifically:
- Party A agreed to sell a house to Party B by a certain deadline, but the sale was not completed on time, resulting in a dispute over which party broke the contract.
- Parties A and B now agree to refer this dispute to arbitration by two arbitrators (one chosen by each party) and an umpire in case the arbitrators disagree.
- The arbitrators will conduct proceedings, hear evidence from both sides, and aim to make an award by a specified deadline. If they cannot agree, they will submit separate awards to the ump
(Kindly refer to section 10 and 11 of Arbitration and Conciliation Act, 1996)
This agreement made the............................... day of........................20....... between (A) of the first part, (B) of the second part; Whereas by an agreement dated the……………day of............................20....... the said A agreed to sell to the said B his house situated in New Delhi for a consideration of Rs.........................., on terms and conditions more particularly contained in the said agreement, one of such conditions being that the sale shall be completed on or before the............................... day of........................20.......; And whereas the sale has not yet been completed, though the date fixed for the completion thereof has expired, and a dispute has arisen between the said A and the said B as to which of them has broken the contract for sale and purchase of the house contained in the above recited agreement; And whereas the parties have agreed to refer this dispute to arbitration; Now this agreement witnesseth that in pursuance of the premises the said A and the said B hereby agree to refer the dispute as to which of them has broken the contract for sale and purchase as hereinbefore recited to the arbitration of D……………(nominated by the said A), and E…………… (nominated by the said B), and in case of disagreement between the said D and the said E to the arbitration of F …………… as an umpire; (or the arbitration of an umpire who shall be nominated in writing by the said arbitrators before entering upon the arbitration proceedings); and that the said arbitrators shall appoint the date and time and place for holding the arbitration proceedings, and give notice in writing thereof to the parties hereto; And that on the date and at the time and place so appointed the parties appear before them with all the oral and documentary evidence on which they rely in support of their respective cases; And that if either of the parties shall make default in appearing before the arbitrators or shall fail to produce the evidence oral or documentary, relied upon by him, then and in any such case the arbitrator shall be at liberty to proceed against such defaulting party ex parte or to adjourn the arbitration proceedings for such time and place as they shall think fit provided that no adjournment shall be granted by the arbitrators beyond the............................... day of........................20....... and that on such appointed day or on any subsequent day, not later, however, than the aforesaid............................... day of........................20....... to which the proceedings may be adjourned by the arbitrators, they shall hear the parties, or such of them as may be then present, and such evidence, oral or documentary, as may be produced, and shall thereafter make their award in writing, in any case on or before the day of............................20....... and that the award so made shall include a finding as to the party in default and as to the remedy or relief to which the party not in default is entitled and a decision as to the costs of the arbitration; That if the arbitrators shall not agree to an award, then each of them shall write his separate award, and shall before the aforesaid............................... day of........................20....... forward that same to the said umpire; and that if the arbitrators, or any of them shall fail or refuse to make an award or shall refuse to attend the arbitration proceedings or shall become incapable to attend the same for any reason whatsoever, then and in each of such cases the umpire shall, suo moto or at the request of the arbitrators or of the said A and the said B or of either of them, appoint a time and place for the arbitration proceedings before him, and shall give notice in writing of the same to the arbitrators and to the said A and the said B; and that the said A and the said B shall appear before the umpire at the time and place so appointed by him together with all the evidence, oral or documentary, relied upon by them respectively; and that if default be made by either the said A or the said B in so appearing before the said umpire or in producing their evidence, then the umpire shall be at liberty to proceed ex parte against the party in default unless he in his discretion shall adjourn the proceedings to another date, provided that no adjournment shall be granted by the umpire, to a date beyond …………….days after the reference to him; and that the award of the umpire shall be made in writing on or before that day and upon all the matters on which the arbitrators were competent to make an award hereunder; Provided also that is shall not be obligatory for the umpire to hear the evidence of the parties if he, in his absolute judgment, shall be of opinion that the separate awards, if any, of the arbitrators or the record, if any, prepared by them, is sufficient to enable him to make his award; And finally that the award made hereunder by the arbitrators or by the umpire, as the case may be, shall be binding on the said A and the said B, and on their respective heirs, successors, legal representatives and assigns. In witnesses whereof:—
An Example of The Arbitration Clause That Will Be Placed in The Commercial Agreements Has Been Shown in The Section On "Introduction To TOBB Arbitration" in This Book