Arbitration agreement

Divya (Querist) 06 November 2012 This query is : Resolved
Dear Sir/Mam

A bank while issuing a credit card, mentions in the Cardholder Agreement Form that all disputes between card holder and bank will be solved only though arbitration. The arbitration proceedings will be held at Mumbai.

DOES THIS ABOVE STATEMENT CONFIRM THAT THERE IS A VALID ARBITRATION AGREEMENT BETWEEN BOTH THE PARTIES?????

If there is no valid agreemnt, award becomes null on its own.

Thankyou

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R.K Nanda (Expert) 06 November 2012
1.yes.

2.without AA u cannot go arbitration and

question of award does not arise.

ajay sethi (Expert) 06 November 2012
yes it constitutes valid agreement between bank and credit card holder

Devajyoti Barman (Expert) 06 November 2012
The agreement is very much valid if any part of cause of action between the parties arises at Mumbai.

Ms.Usha Kapoor (Expert) 10 July 2018
I agree with experts.

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