This Arbitration Agreement template is the short version of the entire legal document that contains 6 pages. It is an MS Word file type that is a part of the legal agreements segment. It is basically a contractual agreement b/w two parties where they opt for settling a dispute without going the litigation way.
The Arbitration Agreement contains clauses such as seat, venue, place, and parties, along with the arbitration procedure.
The principles directed in the judgment concerning the arbitration agreement are mentioned below- It should be in the form of writing. • The agreement pertaining to dispute settlement in a private tribunal is mutual. • The clauses of the agreement should lift up an obligation of performance. • The parties should refer the dispute to a private tribunal without prior reservations. • The private tribunal has the authority to settle disputes by sticking to the principles of natural justice and without going the biased way • The parties should have a mutual agreement matching pace with the adage “consensus ad idem.”
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