Free India PDF: Two Arbitrators Agreement Template

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FORM OF AGREEMENT FOR REFERENCE TO TWO ARBITRATORS

Need a reliable Form of Agreement for Reference to Two Arbitrators format to resolve disputes efficiently? Download our customizable legal template in PDF or Word format, ready for immediate use in India, and streamline your arbitration process without delays.

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

A Form of Agreement for Reference to Two Arbitrators is a crucial legal document that allows disputing parties to voluntarily submit their conflict to arbitration by two neutral arbitrators. Under Section 10 of the Arbitration and Conciliation Act, 1996 in India, parties can choose this method for faster, binding resolutions. Unlike court litigation, which can drag on for years, this agreement facilitates expert adjudication, confidentiality, and enforceability of awards as court decrees. It's commonly used in commercial contracts, partnerships, and construction disputes where impartiality from dual arbitrators is preferred.

Why is the Form of Agreement for Reference to Two Arbitrators Format Important?

In today's fast-paced business environment, timely dispute resolution is key to maintaining operations and relationships. This format is important because:

Avoids Court Backlogs: Arbitration is quicker and less formal.
Expert Decision-Making: Two arbitrators bring specialized knowledge.
Confidentiality: Proceedings remain private, protecting sensitive information.
Cost-Effective: Reduces legal fees compared to prolonged trials.
Binding Awards: Decisions are final and enforceable under Indian law. Using a professional Form of Agreement for Reference to Two Arbitrators sample ensures compliance with legal requirements, minimizing risks of invalidation.

Key Elements of the Form of Agreement for Reference to Two Arbitrators Template

Our ready-to-use legal template includes all essential sections for a valid agreement:

Parties' Details: Full names, addresses, and contact information of both parties.
Dispute Description: Clear outline of the existing dispute or potential issues.
Appointment of Arbitrators: Names of the two arbitrators or the method for their selection (e.g., each party appoints one).
Arbitration Venue and Seat: Specified location in India, impacting governing laws.
Applicable Rules: Reference to UNCITRAL, ICC, or Indian Arbitration rules.
Governing Law: Usually Indian law, with clause on jurisdiction.
Timeline and Procedure: Deadlines for hearings and award delivery.
Costs and Expenses: Allocation of arbitration fees.
Signatures and Witnesses: For legal validity.

This comprehensive structure makes the Form of Agreement for Reference to Two Arbitrators format court-ready and customizable.

Who Should Use the Form of Agreement for Reference to Two Arbitrators?

This template is ideal for:

Businesses in commercial disputes.
Partnership dissolutions or profit-sharing conflicts.
Contractors in construction or supply chain issues.
Joint ventures needing neutral resolution.
Any parties preferring arbitration over litigation in civil matters across India. Whether you're a startup, SME, or large corporation, our free download option provides a solid starting point.

Download Your Form of Agreement for Reference to Two Arbitrators Now!

Get instant access to our free Form of Agreement for Reference to Two Arbitrators sample in PDF/Word format. For personalized versions, choose our paid customizable options generated with AI or legal expert assistance. Perfect for quick deployment in your arbitration needs.

Important Note: While this Form of Agreement for Reference to Two Arbitrators legal template is designed for ease and compliance, it's not a substitute for professional legal advice. Customize it to your specific situation and consult a qualified lawyer. Explore related resources like Arbitration Clause Sample, Single Arbitrator Agreement Format India, or Partnership Dispute Resolution Templates for more options. Keywords: Form of Agreement for Reference to Two Arbitrators free download India, ready to use arbitration template, PDF Word format.

FORM OF AGREEMENT FOR REFERENCE TO TWO ARBITRATORS

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

SN, aged about ___ years, r/o ______________________, hereinafter called the 1st party.
PK aged, about ___ years s/o Mr. GC r/o ________________, hereinafter called the 2nd party.
RK aged about 25 years s/o Mr. GC r/o __________________, hereinafter called the 3rd party.

WHEREAS first, second and third parties have been carrying on business of sales and purchase of electrical goods at _______________________ in partnership under name and style _____________________ since ____________.

AND WHEREAS all the three parties have invested equal capital at the start of the business.

AND WHEREAS all the three parties have equal share of profit and loss in partnership business,

AND WHEREAS difference have arisen between the parties and now it has become impossible to carry on the business under the partnership.

AND WHEREAS the parties aforesaid have agreed to refer the matters hereunder to two arbitrators namely Mr. PK s/o Mr. RP r/o ___________________ and Mr. GL s/o Mr. SL r/o ____________________ for their decision.

NOW THIS DEED OF ARBITRATION WITNESSES AS UNDER: -

That the profit and loss account of the partnership business shall be prepared under the supervision of arbitrators aforesaid.
That the liabilities to pay the dues of the creditors by the parties shall be settled by the arbitrators on settlement of the account.
That the arbitrators shall decide the date on which the partnership firm shall be deemed to be dissolved.
That the arbitrators shall decide the matter within 4 months. But in case the matter is not decided within 4 month the time to make the award shall be extended by mutual consent of the parties.
That the arbitrators are entitled to appoint an umpire, when they require during the period in which they are required to make the arbitration award.
That if the arbitrators agree among themselves on the matter of dispute, then their award shall be final. If they differ on the matters, then umpire shall decide the matter and the award by umpire shall be binding on the parties.
The arbitrators shall issue notice to the parties for appearance to clear the position of dispute and produce evidences which they think proper. But if the parties do not appear, the arbitrators shall decide the matter ex-parte.
This deed of agreement shall be binding on the legal representatives, assignee and heir of the parties, in case of death of either party.
The arbitrators may, if they deem it necessary, appoint an account for finalisation of the accounts and shall fix the remuneration of the accountant which shall be included in the cost of the arbitrators fee.
On the arbitration award, if any sum is due on any of the parties, then the party in whose favour the award is granted, may apply to the Court for a decree upon the award and for extension thereof.
That except the matter provided in this agreement, the provisions of the Arbitration Act shall apply.
That it shall be the discretion of the arbitrators to fix the cost of this reference.

The abovenamed parties do hereby agree to all the terms and conditions stated above without any duress, coercion or undue influence and after fully understanding the terms of this deed of arbitration and bind ourselves, our heirs, assignees and legal representatives, and hereby put our hands on this __________, 2000 in the presence of the following witnesses:

Witnesses:

1. Name…………….. 1.Signature…………1st party

Address………….. 2. Signature…………2nd party

3. Signature…………3rd party

2. Name……………….

Address…………….

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Important Guidelines

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

Usage: A Form of Agreement for Reference to Two Arbitrators is utilized in legal and commercial contexts when parties wish to resolve disputes through arbitration and agree to appoint a panel of two arbitrators. This agreement outlines the rules, procedures, and responsibilities of the arbitrators. It is often used in cases where a single arbitrator may not suffice, but a larger panel is not required. Here's a concise guideline:

Header: Begin with the names of the parties involved, the date of the agreement, and a brief description of the dispute.

Arbitrator Selection: Clearly identify the two arbitrators, providing details about 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 two-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 safeguard 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 Two Arbitrators is vital for an efficient dispute resolution process that benefits from multiple perspectives. 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 Two Arbitrators?→

This is a legal agreement under the Arbitration and Conciliation Act, 1996, used in India to refer existing disputes to two arbitrators for binding resolution outside court.

Is this agreement legally valid in India?→

Yes, this agreement is legally enforceable in India if properly executed, stamped, and in compliance with the Arbitration and Conciliation Act, 1996.

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

Yes, as per the Indian Stamp Act, arbitration agreements attract nominal stamp duty varying by state; get it stamped before execution or registration.

In what format can I download this agreement?→

Download this legal agreement in editable Word or non-editable PDF format for convenience in India.

Can I customize or edit this agreement template?→

Yes, this customizable Word template allows editing of parties' details, dispute description, and arbitrator terms to suit your needs in India.

When and who should use this Form of Agreement for Two Arbitrators?→

Use this when parties in India mutually agree to refer a dispute to two arbitrators under the Arbitration Act for efficient, private resolution.