endeavor to settle such dispute amicably. The attempt to bring about an amicable settlement is considered to have failed as soon as one of the parties hereto, after reasonable attempts which attempt shall continue for not less than 30 days, gives notice thereof to the other parties in writing. (b) All disputes, controversies and differences of opinion arising out of or in connection with this agreement or for the breach hereof which cannot be settled amicably by the parties hereto, shall be settled by arbitration in accordance with the Indian Arbitration and Conciliation Act, 1996 by the sole arbitrator to be appointed by mutual consent, failing which by the Hon’ble High Court of Punjab and Haryana. The parties shall appoint/take steps to appoint the sole arbitrator within 15 days of receiving a notice from the other party in accordance with Clause 7(a) above. The venue of arbitration shall be New Delhi. The parties shall continue to fulfill their obligations under this Agreement pending the final resolution of the dispute and the Parties shall not have the right to suspend their obligations under this Agreement by virtue of any dispute being referred to arbitration.
