Arbitration Clauses in Contracts by Shiva.

No. 7

Arbitration Clauses in Contracts

(a) Every dispute, difference or question which may at any time arise between the parties hereto or any person claiming under them, touching or arising out of or in respect of this agreement (deed) or the subject-matter thereof shall be referred to the arbitration of X.Y. etc. or, if he shall be unable or unwilling to act, to another arbitrator to be agreed upon between the parties or failing agreement to be nominated by. . . . . . . . . . . . . . . . . . . . . . . . . . . . .[or, failing agreement to two arbitrators one to be appointed by each party to the difference (whether consisting of one or more than one person) and in case of difference of opinion between them to an umpire appointed by the said two arbitrators before entering on the reference] and the decision of the arbitrator (or such arbitrators, or umpire as the case may be) shall be final and binding on the parties.

(b) In the event of any dispute, difference or question arising out of or in respect of this agreement or the commission of any breach of any terms thereof or of compensation payable therefor or in any manner whatsoever in connection with it, the same shall be referred to the Chamber of Commerce . . . . . . . . . . . . . (or the Association of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .) for arbitration as provided in Rules framed by the said Chamber (or Association) for the purpose. The decision or award so given shall be binding on the parties hereto.

(c) All disputes arising between the partners as to the interpretation, operation, or effect of any clause in this deed or any other difference arising between the partners which cannot be mutually resolved, shall be referred to the arbitration of . . . . . . . . . . . . . . . . . . . . . . . ., failing him to any other arbitrator chosen by the partners in writing. The decision of such an arbitrator shall be binding on the partners.

(d) The parties hereto agree that any dispute between them arising from or under the agreement, or as to the interpretation of its meaning or effect, or concerned with the transaction of . . . . . . . . . . . . . . . . . . . . . . . entered into by this agreement shall be referred to the arbitration and award of Shri . . . . . . . . . . . . . . . . in whose impartiality the parties have implicit faith and confidence, and decision thereon shall be final and binding on the parties.

(e) All disputes or differences between the parties to this agreement touching or concerning the construction, meaning or effect of these presents, or any matter herein contained, or the transaction hereby completed, or the respective rights and liabilities of the parties, or their enforcement, shall be referred to . . . . . . . who shall either decide the dispute or differences himself or appoint an arbitrator or a board of arbitrators, to decide the dispute or difference and refer it to such arbitrator or board for his or their award, which shall be final and binding on the parties.

(f) All disputes or differences between the partners during the continuance of this partnership touching or concerning the construction, operation or effect of any clause in this deed, or the transaction hereby contemplated, or the respective rights and liabilities of the partners, or their enforcement, or if any difference of opinion arises which cannot be resolved and is not provided under this deed as to the advisability of carrying on the business of the partnership or as to the act or omission or neglect of a partner which is calculated to cause loss to the partnership business, or as to the correctness or ascertainment of the accounts and profit and loss of the partnership business, or the appropriation of any funds of the partnership, or the custody of documents, books or other things belonging to the partnership, or the winding-up of the business of partnership, shall be referred to arbitration of Mr . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (name and full address) who shall decide the dispute or differences himself or refer it to such other arbitrator or board of arbitrators nominated by him with the consent of the parties to this deed for award which shall be final and binding on the parties.

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