Three Arbitrators Agreement Template India

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FORM OF AGREEMENT FOR REFERENCE TO THREE ARBITRATORS

Need a streamlined solution for resolving disputes outside court? Our Form of Agreement for Reference to Three Arbitrators format provides a ready-to-use, customizable legal template in PDF or Word format, perfect for businesses and individuals in India seeking efficient arbitration under the Arbitration and Conciliation Act, 1996.

What is a Form of Agreement for Reference to Three Arbitrators?

A Form of Agreement for Reference to Three Arbitrators is a binding contract between disputing parties to submit their differences—whether existing or anticipated—to a panel of three neutral arbitrators. This document is essential in commercial, construction, partnership, or contractual disputes where parties prefer arbitration over traditional litigation. In India, it aligns with Section 7 of the Arbitration and Conciliation Act, 1996, ensuring the arbitration clause is enforceable and the process is legally sound. By specifying three arbitrators, it balances power dynamics, with each party typically nominating one and the two agreeing on the third, or court intervention if needed.

Why is a Form of Agreement for Reference to Three Arbitrators Important?

Arbitration offers significant advantages: faster resolution (often within months), confidentiality to protect business secrets, cost savings compared to court trials, and expert decision-makers familiar with industry specifics. In India's overburdened judicial system, this format helps avoid delays under Section 11 for arbitrator appointments. It's crucial for international trade or high-value contracts, promoting amicable settlements and enforceability of awards under the New York Convention. Using a professionally drafted Form of Agreement for Reference to Three Arbitrators sample minimizes risks of procedural challenges, ensuring awards are not set aside for invalid agreements.

Key Elements of the Form of Agreement for Reference to Three Arbitrators Format

A comprehensive legal template for this agreement should include:

Parties' Identification: Full names, addresses, and contact details of the disputants.
Dispute Description: Clear reference to the subject matter, whether specific disputes or future ones arising from a principal contract.
Arbitrator Appointment Mechanism: Mode for nominating three arbitrators, timelines, and fallback to court under Section 11.
Arbitration Procedure: Seat/venue (e.g., Mumbai, Delhi), language, applicable rules (UNCITRAL, ICC, or institutional like ICADR), and timelines for hearings and awards.
Governing Law and Jurisdiction: Indian law, with exclusion of Part I for foreign-seated arbitrations if applicable.
Costs and Expenses: Allocation of fees, who bears arbitrator costs.
Finality and Enforcement: Clause stating the award is final, binding, and enforceable as a court decree under Section 36.
Signatures and Witnesses: Execution by parties or authorized representatives.

These elements ensure compliance with court/company requirements and make the document robust.

Who Should Use This Form of Agreement for Reference to Three Arbitrators?

This ready-to-use format is ideal for:

Businesses in construction, real estate, or supply chain contracts facing payment or performance disputes.
Partnership dissolutions or shareholder disagreements.
Commercial entities in joint ventures or international trade.
Individuals or companies preferring expert arbitration panels over judges in technical matters like engineering or IT services. Common in civil and commercial litigation alternatives across India.

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Important Note

While this customizable legal template is designed for convenience, it's not a substitute for professional legal advice. Consult a qualified lawyer to adapt it to your specific circumstances, ensure compliance with latest amendments, and handle execution. Explore related resources like arbitration agreement format India, three arbitrators clause sample, Section 7 arbitration agreement PDF, and more for comprehensive dispute resolution tools.

FORM OF AGREEMENT FOR REFERENCE TO THREE ARBITRATORS

This deed of agreement made on this _________, 2000 between:

Shri PL, aged about ___ years s/o Shri SS r/o ___________________, Delhi, hereinafter called the 1st party.
Shri KL, aged about ___ years s/o Shri SS r/o _________________, hereinafter called the 2nd party.
Shri CL, aged about ___ years s/o Shri SS r/o _____________, hereinafter called the 3rd party.

Whereas the above parties are carrying on business of general

merchandise in partnership under name and style M/s. __________________, at _______________ since ________, 2000.

And whereas share profit or loss in the firm is : 1st party 50%, 2nd party 30% and 3rd party 20%.

And whereas all the three parties are active partners in the partnership business.

And whereas some disputes have arisen among the parties abovenamed and it has become impossible to carry on business under partnership

And whereas the parties hereto have agreed to refer the matter to the arbitration mentioned here under :

Mr. PK s/o Mr. KP, r/o _________________ .
Mr. PK s/o Mr. RP, r/o __________________, and
Mr. SK, s/o Mr. JN r/o ___________________.

NOW THIS AGREEMENT WITNESSES AS UNDER:

The arbitrators are entitled to decide and determine the following matter of disputes, which are referred to them for final determination and award.
To determine the position of assets and liabilities of the firm.
To prepare the list of sundry debtors and creditors
To divide the assets and liabilities according to the share of the parties.
That the arbitrators shall enter upon the reference with effect from ___________ and shall deliver their award within 4 months.
That the award given by the arbitrators shall be final and binding on the arbitrators.
That the award of the arbitrators shall be final and binding on heirs, legal representatives and assignees of the parties in case of death of any of the party during the course of arbitration proceedings.
That Mr. RN, the 1st arbitrator shall be the President of the arbitration tribunal who will arrange the sitting for arbitration proceedings.
In case of difference of opinion between the arbitrators , the decision of the majority shall be final.
The arbitrators shall fix up the date of hearing and issue notices to the parties for appearance.
That if the parties do not turn up on the date fixed for hearing, the arbitration will proceed ex-parte.
That this agreement shall be binding on the legal representatives, heirs, and assignees in case of death of any of the parties.
If the arbitrators think it proper, they shall appoint an accountant for preparation and finalisation of accounts on fixed remuneration and shall include the remuneration in the cost of arbitration award.
If the arbitrators award that any sum is due against any party, then that party may file a suit in the proper Court and obtain a decree in terms of award and shall realize the same from the party against whom the sum is due.
That save the matter provided in this deed, the provision of the Indian Arbitration & Conciliation Act, 1996 shall apply to this reference.
That it shall be the discretion of the arbitrators to fix the cost of reference.

The above named parties do hereby agree to all the terms and conditions stated above without any duress, or undue influence and after fully understanding the terms of this deed of arbitration, do hereby put our hands on this ___________, 2000, in the presence of following witnesses:

1. Signature??????.

Name? 1st party??????.

Address??????.. 2nd party??????.

?????????? 3rd party??????.

2. Signature??????

Name???????..

Address??????..

??????????

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Important Guidelines

Guideline for Drafting a Form of Agreement for Reference to Three Arbitrators:

Usage: A Form of Agreement for Reference to Three Arbitrators is employed in legal and commercial contexts when parties wish to resolve disputes through arbitration and agree to appoint a panel of three arbitrators. This agreement outlines the rules, procedures, and responsibilities of the arbitrators. It is often used in complex or high-stakes disputes where multiple perspectives are needed for a fair resolution. Here's a brief guideline:

Header: Include the names of the parties involved, date of the agreement, and the dispute's description.

Arbitrator Selection: Clearly identify the three arbitrators and their qualifications, impartiality, and responsibilities.

Arbitration Procedures: Detail the procedures for initiating arbitration, presenting arguments, gathering evidence, and rendering awards, considering the need for a three-member panel.

Arbitrators' Authority: Define the scope of the arbitrators' authority, their decision-making process, and any limitations or exclusions.

Governing Law: Specify the governing law or jurisdiction for the arbitration agreement.

Confidentiality: Include a confidentiality clause to protect sensitive information discussed during arbitration.

Signature: Ensure that all parties involved sign the agreement.

Common Mistakes to Avoid:

Ambiguity: Ensure the agreement is clear and specific to prevent disputes over its interpretation. Neglecting Legal Review: Consult legal professionals to ensure compliance with arbitration laws and regulations. Failure to Define Rules: Specify the rules, timelines, and procedures for arbitration clearly. Excluding Key Details: Include provisions for cost-sharing, choice of arbitration organization, and venue. Ignoring Changes: Update the agreement if the dispute's nature or circumstances change. Drafting a Form of Agreement for Reference to Three Arbitrators is essential for fair and efficient dispute resolution in complex cases. Legal consultation is advisable to create a document that is legally sound, compliant, and tailored to the specific needs and concerns of the parties while ensuring compliance with relevant laws and regulations.

Frequently asked questions

What is the Form of Agreement for Reference to Three Arbitrators?→

This is a legal agreement under Indian law where parties mutually consent to refer their disputes to three arbitrators for resolution, as per the Arbitration and Conciliation Act, 1996. It outlines the arbitration process, arbitrator appointment, and binding award.

Is this agreement legally valid in India?→

Yes, this form is legally valid across India and complies with the Arbitration and Conciliation Act, 1996. It can be enforced in Indian courts if properly executed and stamped.

Do I need to pay stamp duty on this arbitration agreement?→

Yes, stamp duty is applicable as per the Indian Stamp Act, 1899, and varies by state (e.g., ₹100-500 typically). Affix appropriate stamps before execution to ensure validity.

In what format can I download this agreement?→

Download this customizable agreement in editable Word (.docx) or print-ready PDF formats, suitable for immediate use or modification.

Can I edit or customize this Form of Agreement for Three Arbitrators?→

Absolutely, this template is fully customizable. Edit clauses for specific disputes, parties, venue, and rules to tailor it to your needs in India.

Who should use the Form of Agreement for Reference to Three Arbitrators?→

Use this when two or more parties in commercial, construction, or civil disputes in India prefer arbitration by a panel of three arbitrators over court litigation for faster resolution.