Arbitral award by an Arbitral Tribunal
THIS IS THE AWARD by the undersigned, made the.] _________ day of _________
WHEREAS by an agreement under the deed, dated__________ and made between ___________________________ (insert the name, address etc. of contractor) of the one part and _____________________ (insert the name, address etc. of owner of the property) of the other part (being an agreement by the said contractor) to construct certain works upon the land of the said (owner) in accordance with sanctioned plans and specifications contained therein it was agreed between the parties that if any dispute should arise in future between the parties thereto relating to or touching the said agreement or the interpretation thereof or in relation to the rights, duties or liabilities of either party there under the same should be referred to two arbitrators to be appointed by each and the two appointed arbitrators shall appoint the third arbitrator who shall act as the presiding arbitrator in accordance with the provisions of Arbitration & Conciliation Act, 1996.
AND WHEREAS dispute shaving arisen between the a foresaid parties relating to the said agreement the said (contractor) by writing dated ___________ nominated and appointed Shri ___________ (one arbitrator) ______________ of etc, and the said (owner) by writing dated _____________ nominated and appointed Shri ____________ (other arbitrator) of etc, to act as arbitrators and settle the said matters in dispute between the parties.
AND WHEREAS the said arbitrators respectively accepted the said appointments and took upon themselves to discharge the burden of the said reference and before starting the proceeding for the consideration of the disputed matter referred to them by writing under their hands dated _________ appointed me the said Presiding Arbitrator in the said arbitration.
AND WHEREAS the said arbitrators duly extended the time for making the award until the _______ day of ________.
AND WHEREAS the said arbitrators were unable to agree amongst them- selves unanimously upon an award and under such circumstances gave me notice in writing dated _________- and thereupon the disputes stood referred to me.
NOW BE IT KNOW that, I, said Presiding Arbitrator, make my award on the following matter:
- I find that the completion of the work although was delayed for _________ months beyond the agreed date on which it ought to have been completed but I find that such delay was caused partly by exceptionally bad weather and partly by lack of workmen caused by labour strikes and also their having taken up construction works under the Government and I find and award that the said (contractor) is not liable for any damage on that account.
- I find that a part of the work executed by the said ________________ (contractor) was found to be defective in the following respects __________ (defects set out) and I award that the said (owner) is entitled to Rs.___________ as damages on that account. ?
- I find and award that after deducting the said sum of Rs. ____________ on account of the damages there is still due and owing to the said (contractor) in respect of the matters in dispute between the said parties to reference the sum of ____________.
- I direct the said (owner) shall pay the said sum of Rs. ________ to the said (contractor) on or before the _____ day of_______.
- I award and direct that the cost of the said (contractor) relating to and incidental to this arbitration reference including the costs of the arbitrators and of this award which is Rs. ________ shall be borne and paid by the said (owner) or whatever may be the award as to costs.
- Shri _____________ [Arbitrator] having agreed to all the above decisions of the arbitral tribunal this Arbitral, this award is made by the majority of all its members. ?
Signatures of three arbitrators Members of Arbitral Tribunal