Invocation Notice definition
Examples of Invocation Notice in a sentence
Arbitration can be invoked by giving Invocation Notice only after expiry of the 60 days’ period as per Dispute Notice stipulated in the para above.
The party wishing to refer a Dispute to Arbitration shall give notice to the other party specifying all the points of Disputes with details of the amount or claim to be referred to arbitration ("Invocation Notice").
For the purpose of Section 21, the Arbitration Proceeding shall commence only upon date of receipt of Invocation Notice complete in all respects mentioned above.
For a dispute involving claims above Rs5 Crores and upto Rs100 Crore, the claimant shall appoint an Arbitrator and communicate the same to the other Party in the Invocation Notice itself along with the copy of disclosure made by nominated Arbitrator in the form specified in Sixth Schedule of the Arbitration & Conciliation Act, 1996.
For a dispute involving claims above Rs.5 crores and upto Rs. 100 crore, the claimant shall appoint an Arbitrator and communicate the same to the other Party in the Invocation Notice itself along with the copy of disclosure made by nominated Arbitrator in the form specified in Sixth Schedule of the Arbitration & Conciliation Act, 1996.
The Company may pay a cash bonus to Executive based upon pre-established performance goals established by the Company (the "Incentive Bonus").