A)“Every difference or dispute which may hereafter arise between the parties hereto or their respective representatives in relation to this agreement or arising thereout whether as to the constructions or operations thereof, or the respective rights and liabilities thereunder or anything done hereunder or otherwise shall be referred to a sole arbitrator in accordance with and subject to the provisions of the Arbitration and Conciliation Act, 1996. His award shall be accepted and binding on both the parties.”


B)All disputes arising under this agreement shall be governed by and interpreted in accordance with the laws of India, without regard to principles of conflict of laws. The parties to this agreement will submit all disputes arising under this agreement to arbitration in ___________, India before a single arbitrator. The arbitrator shall be selected by mutual agreement of the parties or can be appointed by the court of competent jurisdiction. No party to this agreement will challenge the jurisdiction or venue provisions as provided in this section. Nothing contained herein shall prevent the party from obtaining an injunction.


C)The Parties agree that if they fail to settle the Dispute and fail to agree otherwise in writing according to this agreement, the Dispute shall be referred to the ___________________ in Kolkata, India for arbitration, conducted in English, by either sole or three arbitrators under the rules of the Arbitration and Conciliation Act, 1996.