MODEL ARBITRATION CLAUSE

Any and all controversy(ies) / disputers) / difference(s)/ claim(s) / claim(s) in tort arising out of or in connection with or in relation to this contract, including its existence, validity or termination, shall be referred to and finally resolved by arbitration of sole / three Arbitrator(s) nominated by the Council for National and International Commercial Arbitration (CNICA), at New No.346 (161), Thambu Chetty Street, I Floor; Chennai-600 001, India, and its Rules shall prevail. The award so rendered shall be final and binding on the parties. The language shall be English and the venue shall be at _______________ (City). *

Note: Add the following for international contracts.

* The governing law of the contract shall be substantive law of _______________ (Country).

The award for money shall be payable in _______________ (currency).