Arbitration Agreement

Q.No. 01:

What is arbitration Agreement ?

Ans. to the Q.No.01 :

Under Arbitration Act of 1940

“Arbitration Agreement “ means a written agreement to submit present or future differences to arbitration , whether an arbitrator is named therein or not”

Q.No. 02:

What are the essentials of an arbitral award ?

Ans. to the Q.No.02 :

The “Award “ means the decision of the arbitrator or the umpire .

Essentials :

1. Writing : The award must be in writing in such form and in such language as the umpire and the arbitrators may think fit.
2. Date and Signature : the award must be signed and dated.
3. Notice : The arbitrators shall give notice in writing of making the award to all the parties.
4. Fees and charges : The arbitrators shall state the amount of fees and charges payable in respect of the arbitration and the award.
5. Legality : The award must be in continuity with the submission .it must be certain and final and give a decision on all matters referred . It must not say anything outside the reference.
   
   
   Q.No. 03:
   On what ground can an award be set aside ?
   Ans. to the Q.No.03 :
   Section 30 of the Act provides that the court can set aside an award only in the following cases :

1. If an award is made after the issue of an order by the court superseding the arbitration or after arbitration proceeding have become invalid under Section 35.
2. Improperly procured.
   When an award has been improperly procured or is otherwise invalid.
3. Error of law :
   The umpire as sale arbitrator is not bound to give a reasoned award and if in passing the award he makes a mistake of law or of fact, there is no ground for challenging the validity of the award.
4. Misconduct :
   Where an arbitrator or umpire has misconduct himself or the proceedings. Misconduct means improper conduct. the following acts have been held to be misconduct under this section bribery ; undue partiality in favour of one party ; arbitrator secretly acquiring an interest in the subject –matter of the arbitration wrongfully refusing to hear a witness or a party ;etc.
5. Moral lapse:
   
   
   Q.No. 04:
   
   
   What conditions are implied in arbitration agreement ?
   Ans. to the Q.No.04:
   The Arbitration Act includes within its scope three types or Method of Arbitration or 4 (Four) Type s method of arbitration .

1. Arbitration without the intervention of court
2. Arbitration with the intervention of the court
3. Arbitration in suits
4. Statutory Arbitration
   But discuss “Arbitration without the intervention of court” section 3 and the first schedule to the arbitration act provides that an arbitration agreement, unless a different intention is expressed therein, shall be deemed to include the following terms:
   
   

1. Sole arbitrator : Unless otherwise expressly provided the reference shall be to a sole arbitrator.
2. Even number of arbitrators and an umpire :if the …….