AGREEMENT OF REFERENCE TO A COMMON ARBITRATOR
THIS AGREEMENT is made at ... this ... day of …………. between Mr. A of ……….. residing at ……….... hereinafter referred to as the Party of the First Part and Mr. B of ………... residing at …………………. hereinafter referred to as the Party of the Second Part.
WHEREAS by an Agreement (Building contract) dated the ... day of ... entered into between the parties hereto the Party of the First Part entrusted the work of constructing a building on his plot of land situated at... to the Party of the Second Part on the terms and conditions therein mentioned.
AND WHEREAS the Party of the Second Part has commenced the construction of the building according to the plans sanctioned by the... Municipal Corporation and has completed the construction to the extent of the 1st floor level.
AND WHEREAS the Party of First Part has made certain payments to the Party of the Second Part on account but the Party of the Second Part is pressing for more payments which according to the Party of the First Part he As not bound to pay and, therefore. the work has come to a standstill.
AND WHEREAS disputes have therefore arisen between the parties hereto regarding the interpretation of certain provisions of the said agreement and also regarding the quality of construction and delay in the work.
AND WHEREAS the said agreement provides that in the event of any dispute or difference arising between the parties the same shall be referred to arbitration of a common arbitrator if agreed upon or otherwise to two Arbitrators and the Arbitration shall be governed by the provisions of the Arbitration & Conciliation Act, 1996.
AND WHEREAS the parties have agreed to refer all the disputes regarding to the said contract to Mr... Architect, as common Arbitrator and have proposed to enter into this Agreement for reference of the disputes to the sole arbitration of the said Mr.……….
NOW IT IS AGREED BETWEEN THE PARTIES HERETO AS FOLLOWS:-
IN WITNESS WHEREOF the parties have put their respective hands the day and year first hereinabove written.
SIGNED by the within named
Mr. A ... in the presence of
Signed by the within named
Mr. B... in the presence of
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