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Stimulation

The arbitration agreement is between Xavier, Yusuf, and Zachary residing at XYZ Computers Pvt. Ltd in Tombay, Saurashtra. The parties agree to settle any disputes arising from their ownership shares and profits through arbitration with the Saurashtra Arbitration Council according to its rules. The law of Saurashtra will govern the arbitration. Each party will pay half of arbitration expenses with the total amount due within the arbitral award. Yashee Sharan is selected as the sole arbitrator to resolve disputes. The parties agree to the terms of the arbitration agreement.

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THAKUR SARTHAK SINGH
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30 views2 pages

Stimulation

The arbitration agreement is between Xavier, Yusuf, and Zachary residing at XYZ Computers Pvt. Ltd in Tombay, Saurashtra. The parties agree to settle any disputes arising from their ownership shares and profits through arbitration with the Saurashtra Arbitration Council according to its rules. The law of Saurashtra will govern the arbitration. Each party will pay half of arbitration expenses with the total amount due within the arbitral award. Yashee Sharan is selected as the sole arbitrator to resolve disputes. The parties agree to the terms of the arbitration agreement.

Uploaded by

THAKUR SARTHAK SINGH
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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1. This arbitration agreement is made between (1). Xavier (2).

Yusuf and Zachary


residing at the address of XYZ Computers Pvt. Ltd Tombay, Saurashtra, and the parties
who have enacted the Agreement, hereinafter shall be referred to as THE PARTIES.

2. The parties have agreed on the settlement of any dispute arising out of or in connection
with the ownership of shares and profits dated 24th Oct 2020. Subjected Agreement by
arbitration through the Saurashtra Arbitration Council in accordance with the Saurashtra
Arbitration Rules.

The parties, by reading the Rules, shall declare that they have accepted to comply with its
terms, obligations and consequences beforehand.

3. The parties have decided to have the arbitration conducted at Tombay, Saurashtra

4. The parties have agreed on Saurashtra. as the applicable law to this arbitration.

5. The parties each undertake to pay half of the arbitration expenses that shall be notified
subsequent to filing the suit before the Saurashtra Arbitration Council as an advance payment.
Each party also undertakes to pay his share of the total expenses determined within the
Arbitral Award approved by the Council.

In the case where the defendant does not pay half of the advance payment, then the claimant
shall be obliged to pay the total advance payment amount.

6. It is determined by the parties that disputes shall be settled by Yashee Sharan arbitrator.

OPTIONAL TERMS

7. a) The parties have agreed on the appointment of a sole arbitrator by the Saurashtra
Arbitration Council.

7.b) The parties have nominated, as the sole arbitrator, Yashee Sharan residing at the
address of Tombay Saurashtra

However, in the case where the sole arbitrator is not approved by the Saurashtra Arbitration
Council, then the parties accept that the arbitrator shall be appointed by the Council.

7.c) The parties accept to nominate the sole arbitrator by themselves within 30 days from the
notification of the arbitration request to the defendant and the appointment of the sole
arbitrator by the Council if the parties cannot agree on the nomination of the sole arbitrator or
in the case where the nomination of the sole arbitrator by the parties is not approved by the
Council.

8.a)The parties accept to have arbitrator to be nominated by the claimant in its petition of
arbitration request.

The appointment of the arbitrator by the Council if the claimant or the defendant does not
state the name of its arbitrator or if they leave the nomination of the arbitrators to the Council;

8. b) The parties accept to have arbitrator to be nominated by the claimant in its petition of
arbitration request.

The arbitrators appointed by the Council in the cases where the plaintiff or the defendant does
not nominate an arbitrator or if they leave the appointment of the arbitrators to the Council.

9. The parties accept to sign the Terms of Reference to be drawn up in the presence of the
arbitrator(s) upon the invitation of the arbitrator (or the Chairman of the Arbitral Tribunal),
that the arbitration procedures shall still continue without interruption and be effectual even if
they abstain from signing it, and the abstention of either one or both parties from signing the
Terms of Reference shall not affect the validity of the Arbitral Award.

10. The parties undertake to pay the arbitration expenses in accordance with the Saurashtra
Arbitration Rules in the case of the reconciliation of the parties or the claimant waiving his
claim after the dispute is submitted to the Saurashtra Arbitration.

11. We hereby undertake to accept and to comply with the provisions of this arbitration
agreement comprising 10 articles as above.

On behalf of On behalf of

(1). Xavier (2). Yusuf Zachary

____________ ___________

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