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As per Section 31 (7) (a) of the A&C Act, unless otherwise agreed by the parties, the Arbitral Tribunal may award interest for the pre-reference period, at such rate as it deems reasonable, on the whole or any part of the award money.

Sample Clauses Providing for Ad Hoc Arbitration. ?Any dispute, controversy or claim arising out of or relating to this contract, or the breach, termination or invalidity thereof, shall be settled by arbitration in ance with the UNCITRAL Arbitration Rules as at present in force.?

7 Arbitration agreement. ? (1) In this Part, ?arbitration agreement? means an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.

(1) In this Part, "arbitration agreement" means an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.

Section 17 of the Act has helped in making arbitration proceedings more convenient and expeditious as now the tribunal in itself is able to remedy any exigent situation which may arise during the pendency of the proceedings with as much ease as any other civil court and also whilst following the same principles of law.

General principles The Arbitration Act is based on three guiding principles: Fairness ? The aim of arbitration is to obtain a fair resolution of a dispute by an impartial tribunal. Party autonomy ? Parties are free to decide how their dispute may be resolved, with any necessary safeguards for public safety.