Open offer on behalf of one party to the other for the sake of peace
In the Matter of an Arbitration between [parties]
Our client has considered this matter and for the sake of peace and without any admission of liability is prepared to pay your client the sum of Rs. ___________ and a reasonable sum for his costs provided an immediate settlement can be agreed.
In the event of your client being unable to accept this offer our client reserves the right to refer to it when before the arbitrator.
This offer will remain open for ten days.
[Signature of solicitors of party making offer]