Examples of Third Arbitrator in a sentence
If a party fails to appoint an Arbitrator within 30 days from the receipt of the request to do so, from the other parties, or if the party appointed Arbitrators, fail to agree on a Third Arbitrator, the Arbitrator(s) not so appointed and the Third Arbitrator, as the case may be, shall be appointed in the manner provided in the Arbitration and Conciliation Act, 1996.
The cost for the Third Arbitrator, if any, shall be shared equally by Landlord and Tenant.
The Arbitral Tribunal will consist of three Arbitrators one each to be appointed by the Purchaser and the supplier the Third Arbitrator will be chosen by the two arbitrators so appointed by the parties and will acts as Presiding Arbitrator.
If only two parties are involved in the arbitration, the involved parties shall jointly share all other expenses of the arbitration proceeding and the expenses of the Third Arbitrator.
The two Arbitrators, as appointed aforesaid shall appoint within a period of 30 days, the Third Arbitrator who shall act as the Presiding Arbitrator.