ISSUE:
Whether the contract's two-tier arbitration clause, which allows for a second arbitration with the International Chamber of Commerce (ICC) in London after the initial arbitration in India, is legitimate and allowed under Indian law. This issue has already been addressed and resolved in favor of the clause's legitimacy?
Whether the contract's two-tier arbitration clause, which allows for a second arbitration with the International Chamber of Commerce (ICC) in London after the initial arbitration in India, is legitimate and allowed under Indian law. This issue has already been addressed and resolved in favour of the clause's legitimacy.
RULE:
In this scenario, the relevant rule is the two-tier arbitration clause included in the parties' contract. This section provides for a two-stage arbitration process, with the first stage involving arbitration in India and the case proceeding to a second arbitration conducted by the International Chamber of Commerce (ICC) in London if either party is dissatisfied with the outcome. This regulation specifies the agreed-upon approach for resolving contract-related issues.