Arbitration

Querist : Anonymous (Querist) 12 March 2011 This query is : Resolved
Dear Sir,

My friend had taken a vehicle from a finance company. and due to non paymenyt it was taken back by the financer. Now the financier has envoke a arbitration clause and asking for payment of somemore amount. Agreement was filled in Goa branch and Arbitrator has been appointed from Mumbai.

Even no copy of agreement have been provided toi my friend.

Need your advise.

Thanking You,

Sameer Sawant

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Devajyoti Barman (Expert) 13 March 2011
You did not mention whether arbitration proceeding has started or not. If yes, then the Bank in the midway can not ask you to make further payment. To comment on the jurisdiction issue pf the Arbitrator, the agreement needs to be seen.