MODEL ARBITRATION AGREEMENT

This agreement made at (place) ____________ on this _________________ on day of _____________________200 Between _____________________ (hereinafter called the party of the 'FIRST PART') and the ____________________ (hereinafter called party of the 'SECOND PART').

The expression FIRST AND SECOND PART wherever it occurs shall mean and include the said party as their legal heirs, successors-in-office, administrators, executors and assigned thereof.

Whereas certain disputes have arisen and 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), having its Registered Office at New No. 346 (Old No.161), Thambu Chetty Street, I Floor, Chennai-600 001.

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 appointed by the CNICA.
3. The arbitration shall be administered by the 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.

Note: Add the following for International Arbitration Agreement.

7. The governing law of the contract shall be the substantive law of _______________ (Country).
8. The Award for money shall be in _______________ (Currency).