The expression FIRST AND SECOND PART wherever it occurs shall mean and include the said party or their legal heirs , successors in - office , administrators , executors and assigns thereof . Whereas certain disputes have arisen and are subsisting between the aforesaid parties relating to....................(details of contract to be given ) .
And Whereas the parties agree to submit their claim ( s ) , controversy ( ies ) , dispute ( s ) , difference ( s ) , to the Council for National and International Commercial Arbitration ( CNICA )
Now the parties hereby agree as follows:
1.The parties agree to submit their claim ( s ) , controversy ( ies ) , dispute ( s ) , difference ( s ) to arbitration for resolution by sole / three Arbitrator ( s ) .
2.The arbitrator (s) shall be nominated by CNICA
3.The arbitration shall be administered by CNICA, in accordance with its Rules .
4.The place of arbitration shall be at............(City).
5.The language of Arbitration shall be English.
6.The award so rendered shall be final and binding on both the parties.
In Witness whereof, the parties have signed on the day, month and year above written
This agreement made at ………….(place) on this …….day of ………200 Between…………..(hereinafter called the party of the FIRST PART) and …………(hereinafter called the party of the SECOND PART)
The expression First and Second part wherever it occurs shall mean and include the said party and their legal heirs, successors-in-office, administrators, executors and assigns thereof.
Whereas certain disputes have arisen and are subsisting between the aforesaid parties relating to …………(details of contract to be given).