26-11-2012, 02:53 PM
IMPORTANT PROVISIONS OF THE ARBITRATION & CONCILIATION ACT 1996
ARBITRATION ACT 1996.ppt (Size: 129.5 KB / Downloads: 23)
Definitions
1(a) Ad-hoc and Institutional Arbitration
1(b) Arbitration agreement
1© Interim Award
1(d) arbitral tribunal
1(e) Court
Parties free to determine certain issues.
Written Communication
1. Unless otherwise agreed by parties
(a) communication deemed to be received if delivered personally, or at his place of business, habitual residence place of business, habitual residence /mailing address on the day it is so delivered.
(b) If non of above place is found after making reasonable inquiry then a record of attempt to deliver at his last known address of his place of business, habitual residence place of business, habitual residence /mailing address.
Waiver of right to object
If a party do not object to, without undue delay, any non compliance of
(a) any derogatory provision of part I of this Act ,or
(b) any requirement under arbitration agreement
and proceeds with arbitration, shall be deemed to have waived of his right to so object.
Reference to arbitration by court
Judicial authority shall direct the parties to arbitration, if
1 Party submit to court not later than his first written statement on the substance of dispute and
2 Arbitration agreement exist
3 Arbitration may start/pending above application with court
Appointment of arbitrators
1. Failure u/s Sub.3 to appoint arbitrator/3rd arbitrator within 30 days, on receipt of request to do so Chief Justice/Rep./to appoint
2. Failing U/s Sub.2 in case sole arbitrator, parties fails to agree within 30 days, Chief Justice/ Rep. To appoint.
3. In case of failure of party/parties U/s. sub.2 for any problem Chief Justice to decide, unless agreement provide otherwise to appoint the arbitrators.