Re: Notice for Arbitration
We act on behalf of our client, Mrs. A, of ………………….. (Hereinafter referred to as “Land Owner”) and instructed to serve a legal notice upon you (which expression shall mean and include its successors-in-interest, legal representative, executors, administrators and assignees) (hereinafter referred to as “you.”). The legal notice is as follows:
1. That Mrs. A is the land owner who made an agreement with you for constructing a six storied building on the scheduled land of ……………..in the Sub Registration office of District: ………….
2. That the Deed of Agreement dated 02/05/2007 executed between Mrs. A and you for constructing of a multi storied building (hereinafter referred to as “PROJECT BUILDING”) with the money and resources to be provided by you (Developer/Second Party) on the Scheduled Land.
3. That you contracted to complete the construction within 24 (twenty four) months from the day of handing over the vacant possession of the land, such period actually lapsed on 31/10/2009. But you failed to handover the completed project rooting for our Client.
4. As per the terms and condition of the said Agreement, the Clause 4 of the Deed of Agreement provides that after the said expiry date i.e. 31.10.2009, if you the developer fails to handover the completed project, you must compensate to the landowner at the rate of 60,000(taka sixty thousand) only per month as the seven apartments of the landowner’s portion till the final handover of the ready apartment and issued several invoices for payment of various fees on monthly basis. As of today your outstanding amount as per the said Agreement is Tk. 2,10,000.00 (Taka two lac ten thousand) only .
5. That you are contractually liable to pay the above amount in due time. However, you did not come forward to adjust your outstanding amount till to date. Accordingly, several letters were served by our clients requesting you to repay your total outstanding. However, you showed utter disrespect to our client and purposefully in violation of the fundamental terms of the said Agreement failed to make payment from the very inception even after receiving several reminders.
6. In the above premises, it is evident that disputes arose between you and our client. Pursuant to clause 26 of the said Agreement we hereby give you notice for Arbitration under Arbitration Act 2001. Since the Arbitration clause does not prescribe the number of arbitrators may be appointed, our client has propose arbitration with a sole arbitrator. Our client also proposes the name of Mr. X of address ………………….………….as the sole arbitrator.
7. We request you to accept the above proposal of our client and intimate the undersigned within 30(thirty) days of the receipt of this notice.
For: “The Lawyers & Jurists”