arbitration
darshan
(Querist) 19 August 2014
This query is : Resolved
Any dispute (in agreement stock on advance cash but in practice credit given )arise between parties which is not covered in agreement shall be decided by arbitrator Is valid ?
Kumar Doab
(Expert) 19 August 2014
If both parties have agreed on it then it may be.
Devajyoti Barman
(Expert) 20 August 2014
unless there is any prior arbitration agreement, the same can not happen.
Advocate. Arunagiri
(Expert) 20 August 2014
Any dispute raised based on the agreement alone can be referred to the Arbitrator.
In your case, the stocks are traded with the cash paid in advance only. At your request they will give you additional exposure (credit), say 10 times of your advance money.
This is part and parcel of the share trading agreement. So, this can be referred to the Arbitrator.
ajay sethi
(Expert) 20 August 2014
agree with MR arunagiri
darshan
(Querist) 20 August 2014
Arungiri sir
Stock billed on credit is not on my request..its dumped ...
Advocate. Arunagiri
(Expert) 20 August 2014
How you used to place the market orders
by phone
or online.
Without your consent they will not give you exposure.
T. Kalaiselvan, Advocate
(Expert) 25 August 2014
It is common in the present situation that many companies adopt dumping policies without taking consent of their dealers, this results into frustrations and other adverse trade practices. thereby, the company automatically refers the matters to its own arbitrators and put pressure on the dealers to settle the sole arbitrators award or file an EP to enforce the award. This is happening very regularly, hence to avoid litigation and other expenses, the traders/dealers accept for it, but in the eye of law, if there was no agreement for this arrangement, it is illegal and invalid. Better consult a lawyer with all papers and take his further advise.
Kumar Doab
(Expert) 25 August 2014
1.Any order that is not place by you can not be executed.
2. You have the right to return the stock on 'To Pay' basis.................and claim the labor/forwarding charges etc...........and adverse effect on taxes etc if any.................and demand to adjust the returned stock in books and accounts and supply you the certified copy.
3. You can insert a condition only 'Written Order' under proper seal and signature from your end should be accepted.
