Future Disputes:
Parties to a contract who wish to have any future disputes referred to arbitration and/or mediation under the IIAM Arbitration/ Mediation Rules may insert in the contract a clause in the following form:
Suggested Arbitration Clause:
"Any dispute or difference arising out of or in connection with this contract, including any question regarding its existence, operation, termination, validity or breach thereof shall be referred to and finally resolved by arbitration as per the Arbitration & Conciliation Act, 1996 and shall be conducted by the Indian Institute of Arbitration & Mediation, in accordance with their Arbitration Rules ("IIAM Arbitration Rules") for the time being in force." *
Suggested Med-Arb Clause:
“Any dispute or difference arising out of or in connection with this contract shall first be referred to mediation at the Indian Institute of Arbitration & Mediation (IIAM) and in accordance with its then current Mediation Rules and as per the Arbitration & Conciliation Act, 1996. If the mediation is abandoned by the mediator or is otherwise concluded without the dispute or difference being resolved, then such dispute or difference shall be referred to and determined by arbitration as per the Arbitration & Conciliation Act, 1996 by IIAM in accordance with its Arbitration Rules”. *
Suggested Mediation Clause:
“In the event of any dispute arising out of or in relation to this contract, including any question regarding to its existence, validity or termination, the parties shall seek settlement of that dispute by mediation/conciliation in accordance with the IIAM Mediation Rules”.
*The parties may wish to consider adding:
- "The number of arbitrators shall be (one or three)";
- "The place of arbitration shall be (city and/or country)";
- "The language(s) of the arbitration shall be ________________";
- "The Tribunal shall consist of ______ arbitrator(s) to be appointed by the Administrator of IIAM".
Existing Disputes:
Parties who wish to mediate or arbitrate an existing dispute, but there is no agreement between the parties for mediation or arbitration, can enter into an IIAM Mediation or Arbitration agreement. Parties can initiate mediation even without any agreement.
See sample Forms 101 to 105. For more information please contact IIAM Administrator: adm@arbitrationindia.com |
