Common use of Arbitration and Reconciliation Clause in Contracts

Arbitration and Reconciliation. i. If any dispute or difference shall arise as to the quantum to be paid under the Policy (liability being otherwise admitted), such difference shall independently of all other questions be referred to decision of a sole arbitrator in writing by the parties or if they cannot agree upon a single arbitrator within 30 days of any party invoking arbitration, the same shall be referred to a panel of the arbitrators comprising of two arbitrators, one appointed by each of the parties to the dispute/difference and the third arbitrator to be appointed by such two arbitrators and arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The law of the arbitration will be Indian law, and the seat of the arbitration and venue for all hearings shall be within India. ii. It is clearly agreed and understood that no difference or dispute shall be referable to arbitration as herein before provided, if We have disputed or not accepted liability under or in respect of this Policy. iii. It is hereby expressly stipulated and declared that it shall be a condition precedent to any right of action or suit upon this Policy that award by such arbitrator/arbitrators of the amount of the loss or damage shall be first obtained. iv. If these arbitration provisions are held to be invalid, then all such disputes or differences shall be referred to the exclusive jurisdiction of the Indian Courts.

Arbitration and Reconciliation. i. a) If any dispute or difference shall arise as to the quantum to be paid under the Policy policy (liability being otherwise admitted), ) such difference shall independently of all other questions be referred to decision of a sole arbitrator in writing by the parties or if they cannot agree upon a single arbitrator within 30 days of any party invoking arbitration, the same shall be referred to a panel of the arbitrators comprising of two arbitrators, one appointed by each of the parties to the dispute/difference and the third arbitrator to be appointed by such two arbitrators and arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The law of the arbitration will be Indian law, and the seat of the arbitration and venue for all hearings shall be within India. ii. b) It is clearly agreed and understood that no difference or dispute shall be referable to arbitration as herein before provided, if We have the Company has disputed or not accepted liability under or in respect of this Policypolicy. iii. c) It is hereby expressly stipulated and declared that it shall be a condition precedent to any right of action or suit upon this Policy policy that award by such arbitrator/arbitrators of the amount of the loss or damage shall be first obtained. iv. d) If these arbitration provisions are held to be invalid, then all such disputes or differences shall be referred to the exclusive jurisdiction of the Indian Courts.

Arbitration and Reconciliation. i. a) If any dispute or difference shall arise as to the quantum to be paid under the Policy policy (liability being otherwise admitted), ) such difference shall independently of all other questions be referred to decision of a sole arbitrator in writing by the parties or if they cannot agree upon a single arbitrator within 30 days of any party invoking arbitration, the same shall be referred to a panel of the arbitrators comprising of two arbitrators, one appointed by each of the parties to the dispute/dispute / difference and the third arbitrator to be appointed by such two arbitrators and arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The law of the arbitration will be Indian law, and the seat of the arbitration and venue for all hearings shall be within India. ii. b) It is clearly agreed and understood that no difference or dispute shall be referable to arbitration as herein before provided, if We have the Company has disputed or not accepted liability under or in respect of this Policypolicy. iii. c) It is hereby expressly stipulated and declared that it shall be a condition precedent to any right of action or suit upon this Policy policy that award by such arbitrator/arbitrator / arbitrators of the amount of the loss or damage shall be first obtained. iv. d) If these arbitration provisions are held to be invalid, then all such disputes or differences shall be referred to the exclusive jurisdiction of the Indian Courts.

Arbitration and Reconciliation. i. If any dispute or difference shall arise as to the quantum to be paid under the Policy policy (liability being otherwise admitted), ) such difference shall independently of all other questions be referred to decision of a sole arbitrator in writing by the parties or if they cannot agree upon a single arbitrator within 30 days of any party invoking arbitration, the same shall be referred to a panel of the arbitrators comprising of two arbitrators, one appointed by each of the parties to the dispute/difference and the third arbitrator to be appointed by such two arbitrators and arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The law of the arbitration will be Indian law, and the seat of the arbitration and venue for all hearings shall be within India. ii. It is clearly agreed and understood that no difference or dispute shall be referable to arbitration as herein before provided, if We have the Company has disputed or not accepted liability under or in respect of this Policypolicy. iii. It is hereby expressly stipulated and declared that it shall be a condition precedent to any right of action or suit upon this Policy policy that award by such arbitrator/arbitrators of the amount of the loss or damage shall be first obtained. iv. If these arbitration provisions are held to be invalid, then all such disputes or differences shall be referred to the exclusive jurisdiction of the Indian Courts.

Arbitration and Reconciliation. i. 8.1 If any dispute or difference shall arise as to the quantum to be paid under the Policy this policy (liability being otherwise admitted), ) such difference shall independently of all other questions be referred to the decision of a sole arbitrator to be appointed in writing by the parties to or if they cannot agree upon a single arbitrator within 30 days of any party invoking arbitration, the same shall be referred to a panel of the arbitrators three arbitrators, comprising of two arbitrators, one to be appointed by each of the parties to the dispute/difference and the third arbitrator to be appointed by such two arbitrators and arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act, 1996. The law of the arbitration will be Indian law, and the seat of the arbitration and venue for all hearings shall be within India. ii1996 . It is clearly agreed and understood that no difference or dispute shall be referable to arbitration as herein before hereinbefore provided, if We have the Company has disputed or not accepted liability under or in respect of this Policy. iiipolicy. It is hereby expressly stipulated and declared that it shall be a condition precedent to any right of action or suit upon this Policy policy that the award by such arbitrator/arbitrator/ arbitrators of the amount of the loss or damage shall be first obtained. iv. If 8.2 The applicable law in and of the arbitration shall be Indian law. 8.3 The expenses of the arbitrator shall be shared between the parties equally and such expenses along with all reasonable costs in the conduct of the arbitration shall be awarded by the arbitrator to the successful party, or where no party can be said to have been wholly successful, to such party, as substantially succeeded. 8.4 It is agreed condition precedent to any right of action or suit upon this Policy that an award by such arbitrator or arbitrators shall be first obtained. 8.5 In the event that these arbitration provisions are shall be held to be invalid, invalid then all such disputes or differences shall be referred to the exclusive jurisdiction of the Indian Courts.