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ARBITRATION AGREEMENT
THIS ARBITRATION AGREEMENT is executed at Chennai on this__
day of ___ 200__
BETWEEN
Mr.___, S/o. Mr. ___, Indian, Hindu, aged about __ years,
partner of ___, a partnership firm, registered under Indian
Partnership Act 1936, having its office at_______, residing
at_______, herein after referred to as the First Party
AND
MR.___ S/o. Mr.___, Indian, Hindu, aged about ___ years,
partner of ____, a partnership firm, registered under
Indian Partnership Act 1936, having its office at __________,
residing at ________, hereinafter referred to as the
Second Party
AND
MR._____ S/o. Mr.___, Indian, Hindu, aged about __ years,
partner of ___, a partnership firm, registered under Indian
Partnership Act 1936, having its office at _________,
residing at ________, hereinafter referred to as the
Third Party
WHEREAS:
The parties herein have formed a ____in the name and style
of ____ under a Partnership Deed dated ____ and are carrying
on the business of____, at __________.The Parties herein
have contributed a sum of Rs.___/- (Rs.___ Only) each
to the capital of the partnership Firm.
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
The partners hereby appoint Messers._________ and ____
and ____ as the Arbitrators to decide the dispute between
the parties.
The remuneration of the Arbitrators shall be Rs.___/
(Rupees ___ Only) each and the parties herein shall
equally bear the remuneration of the Arbitrator.
The issues that are referred to the Arbitrators
for decision and award are:
To decide:
Whether the notice of dissolution given by Mr.___ is
valid. If so, to decide the date of dissolution and
if the notice of dissolution is not valid, then to decide
whether the other partners are entitled to carry on
the said business without Mr._________ and to decide
the ___.
he Arbitral Tribunal shall have the power to direct the
parties to __________as the Arbitrators may direct. The
venue for Arbitration shall be at _____________ The address
for service of notices/summons to the parties herein shall
be as follows:
FIRST PARTY:
SECOND
PARTY: THIRD PARTY:
The parties herein agree that the Arbitral proceedings
shall be conducted in the English language.
The parties herein agree that this reference to Arbitration
would not stand revoked by the death of any of the parties
or for any other reason.
IN WITNESS WHEREOF THE PARTIES HERETO HAVE EXECUTED
THIS AGREEMENT ON THE DAY, MONTH AND YEAR FIRST HEREIN
ABOVE WRITTEN.
WITNESSES:
(1)
(2) |
