Unless the intention of the parties is otherwise expressed, following provisions shall be implied in an arbitration agreement.

Advertisement

 

a)    Except when it is provided otherwise, the reference shall be to a sole arbitrator.

b)    If the reference is to an even number of arbitrators, the arbitrators shall appoint an umpire not later than one month from the latest date of their respective appointments.

c)    The arbitrators shall make their award within four months, after entering on the reference or after having been called upon to act, by notice in writing, from any party to the arbitration agreement or within such extended time as the court may allow.

d)    When the arbitrators have either allowed time to expire without making an award or expressed in writing, to any of the parties to the agreement or umpire, that they cannot agree, the umpire shall forthwith enter on the reference in lieu of the arbitrators.

e)    The umpire shall make his award within two months of entering on the reference or within such extended time as the court may allow

f)     The arbitrators may examine all the parties to the agreement and other persons claiming under them and all documents and papers relating to the dispute and do all other necessary things.

g)    The award shall be final and binding on the parties.

h)   Costs of references and the award shall be borne by the parties, as the arbitrators, at their discretion, may direct.

Advertisement
The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]
2 Comments

Leave a reply

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp
or

Log in with your credentials

or    

Forgot your details?

or

Create Account