That, all or any disputes, controversy, claim or differences of any kind whatsoever between the parties to this Contract relating to or arising out of or concerning or touching this contract including their respective rights and obligations contained herein or the breach, termination, or relating to interpretation and validity of any provision herein. Such differences, disputes shall be first settled amicably by mutual discussion and negotiations failing which the same shall be settled through Arbitration. The Arbitration shall be governed by the Arbitration & Conciliation Act, 1996 or any statutory amendments/modifications thereof for the time being in force. The Arbitration proceedings shall be held at New Delhi and shall be conducted by a Sole Arbitrator to be appointed by the Managing Director of MIS JMD Ltd on written request from either party or whose decision shall be final and binding upon the parties. The contractor hereby confirms that he lit shall have no objection to the appointment of the sole Arbitrator even if the person so appointed as a sole Arbitrator is an employee or Advocate of the owner or is otherwise connected to the Owner and the contractor confirms that notwithstanding such a relationship/connection, the contractor shall have no doubts as to be independence or impartiality of the said sole Arbitrator. The language to be used in the Arbitration proceeding shall be English and decision of the Sole Arbitrator including but not limited to award shall be final and binding on the parties the Arbitrator shall decide his fees and the cost of the Arbitration proceedings shall be borne equally by both the parties.”
