Section 2 of ACA : Section 2: Definitions

Explanation using Example

Example Scenario:

Imagine a situation where two companies, one based in India (Company A) and another based in Germany (Company B), enter into a contract for the supply of specialized machinery. The contract includes an arbitration agreement stating that any disputes arising from the contract will be resolved through arbitration in India.

During the performance of the contract, a dispute arises over the quality of the machinery supplied. Company A, being dissatisfied with the machinery's performance, wants to initiate arbitration proceedings as per the agreement.

In this context:

• The term "arbitration" would refer to the process they are about to initi...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.