Re: london court of international arbitration (lcia) india arbitration rules
SAM
(Querist) 23 August 2013
This query is : Resolved
Dear Sir's,
In Mall management agreement both the pvt ltd. companies who are having registered office in india and are indian companies and in Mall Management agreement there is one clause GOVERNING LAW AND ARBITRATION which states as below:
This Agreement shall be governed by and construed in accordance with the laws of India.
14.2 Any claim, controversy or dispute arising out of or in connection with this Agreement, not settled by mutual agreement of the Parties involved within 30 days after a Party is provided written notice for settlement thereof, shall be referred to arbitration to a sole arbitrator jointly appointed by the Parties under the London Court of International Arbitration (LCIA) India Arbitration Rules. In the event the Parties are unable to agree upon a sole arbitrator, the claim, controversy or dispute shall be referred to a panel of three arbitrators, one of whom shall be appointed by CONSULTANT and the other by CLIENT and a third by LCIA Court, who shall serve as chairman of the panel. The legal seat of arbitration shall be Mumbai, India. The arbitration proceedings shall be conducted in Mumbai, India and shall be governed by and construed in accordance with the laws of India. The language of the arbitration shall be English. The costs and expenses of the arbitrator(s) and holding the arbitration shall initially be borne in equal proportion by CLIENT and CONSULTANT. Initially, each Party will bear its own legal, traveling and other similar costs. The award of the arbitrator(s) shall be binding on all Parties. However, the arbitrator(s) may in his/their award, require any Party to pay such costs as the arbitrator(s) think fit, including the costs and expenses of the arbitration, travel, costs and advocates fees.
14.3 During the pendency of the arbitration, the Parties shall continue to discharge their respective obligations under this Agreement.
Does that mean Adhoc arbitration can take longer time and do recommendation of institutional arbitration is done?
Cant we incorporate Indian Arbitration and Conciliation Act of 1996 as mentioned below:
14 GOVERNING LAW & ARBITRATION
14.1 This Agreement shall be governed by and construed in accordance with the laws of India.
14.2 Any claim, controversy or dispute arising out of or in connection with this Agreement, not settled by mutual agreement of the Parties involved within 30 days after a Party is provided written notice for settlement thereof, shall be referred to arbitration to a sole arbitrator jointly appointed by the Parties under the Indian Arbitration and Conciliation Act of 1996 including any statutory amendments or re-enactments thereof for the time being in force and rules made thereunder. Pending the arbitration proceedings, all disputed amount/payments, shall be deposited in the custody of the arbitrator(s), appointed under this Clause until the completion of the arbitration proceedings. These disputed amounts/payments held by the arbitrator(s) shall be paid to the Parties as per the provisions of the arbitration award after successful completion of the proceedings. The arbitration proceedings shall be conducted at Mumbai, Maharashtra and shall be governed by and construed in accordance with the laws of India. The language of the arbitration shall be English. The costs and expenses of the arbitrator(s) and holding the arbitration shall initially be borne in equal shares by CCV and PPZ. Initially, each Party will bear its own legal, traveling and other similar costs. The Award of the arbitrator shall be binding on all Parties. However, the arbitrator(s) may in his/their award, require any Party to pay such costs as the arbitrator(s) think fit, including the costs and expenses of the arbitration, travel, costs and advocates fees.
14.3 During the pendency of the arbitration, the Parties shall continue to discharge their respective obligations under this Agreement.
Devajyoti Barman
(Expert) 13 October 2013
Yes, after sending notice for appointment of arbitrator, if other party fails and neglects to give his consent, you can apply for appointment of one u/s 11 of the Act in the local High Court.
