CONCILIATION & ARBITRATION नमुना कलम

CONCILIATION & ARBITRATION a. If any dispute(s) or difference(s) of any kind whatsoever arise between the parties, the parties hereto shall negotiate with a view to its amicable resolution & settlement through a Committee appointed by Director – NIFT Jodhpur Centre. b. In the event no amicable resolution or settlement is reached between the parties within 30 days after receipt of notice by one party, then the disputes or differences as detailed above shall be referred to & settled by the sole Arbitrator to be appointed by Director – NIFT Jodhpur Centre. c. The Arbitration proceedings shall be in accordance with the provision of the Arbitration & Conciliation Act, 1996 & Laws of India as amended or enacted from time to time. d. The venue of the Arbitration shall be based upon the NIFT Jodhpur. The language of the arbitration proceedings shall be in English. e. The Arbitrator will give the speaking & reasoned award. f. The cost incurred during arbitration, if any, shall be borne by the supplier.