Arbitration

Pooja (Querist) 11 December 2012 This query is : Resolved
Dear Experts,

If an Indian party enters into some agreement with any foreign party and that foreign party chooses England a seat of arbitration then does it affect adversely to the Indian party? What should be done in such case? Is there any harm in accepting a foreign place as seat of arbitration for us?

Is it better to choose arbitration in Singapore, in accordance with the Arbitration Rules of Singapore International Arbitration Centre (“SIAC Rules SIAC")

Plz advice.

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Raj Kumar Makkad (Expert) 11 December 2012
Definitely choseing a place favourable to the foreign company may be a difficult position for you in future so it shall be better to chose arbitration in Singapore.

ajay sethi (Expert) 11 December 2012
have you signed agreement ? arbitration aborad is an expensive proposition . you should inist on india as venue .
if Opposite party refuses to agree to india then agree on singapore

Raj Kumar Makkad (Expert) 11 December 2012
In all international treaties/agreements, the place of arbitration is required to be given as per mutual agreement so favourable place is required to be given.

Pooja (Querist) 11 December 2012
Thanks you all for your expert advice.

Raj Kumar Makkad (Expert) 11 December 2012
Most welcome your ppreciation.

Guest (Expert) 12 December 2012
That would be an instance of creating a very complex and odd situation for both the parties for the purpose of implementation of the arbitrator's award, as the place of agreement cannot be lost sight of for applicability of that country's law in the contract.

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