Referral for Settlement Sample Clauses

Referral for Settlement. (applicable only to central public sector enterprises) In the event of failure of a settlement under Clause 16.1 of any dispute or difference relating to the interpretation and application of the provisions of the contracts, such dispute or difference shall be referred by either party for Arbitration to the sole Arbitrator in the Department of Public Enterprises to be nominated by the Secretary to the Government of India in-charge of the Department of Public Enterprises. The Arbitration and Conciliation Act, 1996 shall not be applicable to arbitration under this clause. The award of the Arbitrator shall be binding upon the parties to the dispute, provided, however, any party aggrieved by such award may make a further reference for setting aside or revision of the award to the Law Secretary, Department of Legal Affairs, Ministry of Law & Justice, Government of India. Upon such reference the dispute shall be decided by the Law Secretary or the Special Secretary/Additional Secretary, when so authorized by the Law Secretary, whose decision shall bind the Parties finally and conclusively. The Parties to the dispute will share equally the cost of arbitration as intimated by the Arbitrator.
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Referral for Settlement. (Applicable only to Central Public Sector Enterprises) Subject to conciliation as provided clause 16.1,16.2 and 16.3, in the event of any dispute or difference relating to interpretation and application of the provisions of commercial agreement(s)/contract(s) between Central Public Sector Enterprises (CPSEs/Port Trusts inter se and also between CPSEs and Government Departments/organizations (excluding disputes concerning railways, Income Tax, Customs & Excise Departments)), such dispute or differences shall be taken up by either party for resolution through Administrative Mechanism for Resolution of CPSEs Dispute (AMRCD) as mentioned in DPE OM No. 4(1)/2013-DPE(GM)/rTS-1835 dated 22.05.2018, 04.07.2018 and 11.07.2018. Any Party aggrieved with the decision of the Committee at the First level (tier) may prefer an appeal before the Cabinet Secretary at the Second level (tier) within 15 days from the date of receipt of decision of the Committee at First level, through it’s administrative Ministry/Department, whose decision will be final and binding on all concerned.
Sample 1

Related to Referral for Settlement

  • TERMS OF SETTLEMENT 26. The Respondent agrees to the following terms of settlement:

  • Termination of Settlement If the Settlement is terminated as provided in the Stipulation, the Settlement is not approved, or the Effective Date of the Settlement otherwise fails to occur, this Order shall be vacated, rendered null and void and be of no further force and effect, except as otherwise provided by the Stipulation, and this Order shall be without prejudice to the rights of Plaintiffs, the other Settlement Class Members and Defendants, and the Parties shall revert to their respective positions in the Action as of December 12, 2019, as provided in the Stipulation.

  • Voluntary and Full Settlement 6. The parties acknowledge this Predetermination Settlement Agreement is a voluntary and full settlement of the disputed complaint. The parties affirm they have read and fully understand the terms set forth herein. No party has been coerced, intimidated, threatened or in any way forced to become a party to this Agreement.

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