Two Indians residing in a foreign country agreed to refer their disputes to Indian arbitrator and apply the provision of Indian arbitration and conciliation act 1996. Is such an agreement valid?
Mitul Kumari (Practicing Advocate) 04 December 2011
Two Indians residing in a foreign country agreed to refer their disputes to Indian arbitrator and apply the provision of Indian arbitration and conciliation act 1996. Is such an agreement valid?
sridhar pasumarthy (ADVOCATE) 04 December 2011
Dear Mitul Kumari,
Yes it is absolutely valid.
Rajesh Hazra (Mediator and Legal Counsel ) 05 December 2011
The parties must have agreed to this arrangement.
Mitul Kumari (Practicing Advocate) 05 December 2011
Thank u for ur valuable answer but can u explain me how or under wat section??
Rajesh Hazra (Mediator and Legal Counsel ) 06 December 2011
Dear Mitul,
Arbutration is the resort that the parties agreed to comply on any default in the terms. Go into detail of Arbitration and Concilation Act 1996. Please also note that United Nations Commission on International Trade Law (UNCITRAL) has also adopted the UNCITRAL Model Law on International Commercial Arbitration in 1985 and the UNCITRAL has adopted the UNCITRAL Conciliation Rules in 1980.
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