Common use of A rbitration Clause in Contracts

A rbitration. Any disputes, differences or questions, which may arise at any time hereafter between the Company and the Subscriber touching the true construction of this Agreement or performance of the obligations or enforcing any rights and/or liabilities of the Parties hereunder, shall be first amicably resolved between the Parties within 30 (thirty) days from the date on which such dispute was raised by a Party and communicated to the other Party in writing failing which the dispute shall be referred to a sole arbitrator of the Indian Council of Arbitration (ICA). The arbitration shall be conducted in accordance with the Rules of Arbitration of the Indian Council of Arbitration and shall be subject to the provisions of the Arbitration and Conciliation Act, 1996, as amended or any statutory modifications or re-enactment thereof for the time being in force. The venue of such arbitration shall be at Mumbai and the Courts at Mumbai alone shall have exclusive jurisdiction to deal with the arbitration proceedings and the awards in accordance with law. The arbitration proceedings shall be conducted in English language. The award passed by the arbitrators shall be final and binding upon the Parties.