Interminable, time consuming, complex and expensive Court procedures impelled jurists to search for an alternative forum, less formal, more effective and speedy for resolution of disputes avoiding procedural claptrap and this led them to Arbitration Act…
The Supreme Court of India observed in M/s. Guru Nanak Foundation v. Rattan Singh & Sons
Arbitration improves access to justice. It enhances the likelihood of recovery. It delivers speedier results. It keeps costs down. For many, it is a superior option to the expensive, slow, cumbersome ways that have come to typify our civil justice system.
Peter B. Rutledge Catholic University of America, Columbus School of Law
Employment Contracts, Vendor Contracts, Construction & Building Contracts, Infrastructure contracts, Loan Agreements, Lease Deeds, License Deeds, Technology Transfer, Intellectual Property Licensing/ Assignments, Sale and Purchase Contracts, Partnership Deeds, Joint Venture, Outsourcing Contracts, Product Development contracts, etc. For any assistance, write to Registrar@nationalbarindia.org.
Use the following MODEL ARBITRATION CLAUSE in all the Contracts:
Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the INBA Arbitration Procedure Code, 2012, which shall be deemed to be incorporated by reference into this clause. The number of arbitrators shall be [one/ three ]. The seat, or legal place, of arbitration shall be [City and/or Country]. The language to be used in the arbitration shall be [ English/? ].
In the event of a dispute arising out of or relating to this contract, including my question regarding its existence, validity or termination, the parties shall first seek settlement of that dispute by mediation in accordance with the INBA Mediation Code, which shall be deemed to be incorporated by reference into this clause. If the dispute is not settled by mediation within thirty days of the appointment of the mediator, or such further period as the parties shall agree in writing, the dispute shall be referred to and finally resolved by arbitration under the INBA Arbitration Procedure Code, 2012, which shall be deemed to be incorporated by reference into this clause. The number of arbitrators shall be [one/three]. The seat, or legal place, of arbitration shall be [City and/or Country]. The language to be used in the arbitration shall be [ English/? ].
(DOWNLOAD INBA ARBITRATION AND MEDIATION CENTRE RULES)
