OFFICE OF THE CHIEF COMMISSIONER OF INCOME TAX (CCA ...

Commissioner of Income Tax, Delhi-I, New Delhi or agency of Chamber of Commerce.The parties will be relieved of their respective obligation to perform, hereunder for solong as the event of force majeure continues and to the extent their performance isaffected by such an event of force majeure provided notices as above are given and theforce majeure is established as provided herein above.VALIDITYThis contract is valid for 30 days.ARBITRATION(i)(ii)(iii)(iii)In the event of any question, disputes or differences arising between the partiesrelating to the interpretation and application of these provisions of thisagreement, such disputes or differences shall be resolved amicably by mutualconsultations and on failure to do so shall be referred for arbitration to thenominees Chief Commissioner of Income Tax (CCA), Delhi, New Delhi. Thedecision of Arbitration to the agreement in this regard shall be final and bindingupon both the parties.Settlement of disputes will be as per Indian Arbitration and Conciliation Act-1996 and venue will be the Office of the Chief Commissioner of Income tax,Delhi-I, Central Revenue Building, I.P Estate, New Delhi-110002. It is clarifiedthat the sole arbitrator to adjudicate any disputes arising out of the proposedcontract shall be nominated / appointed by Chief Commissioner Delhi (CCA),and he /she shall not be a person below the rank of CIT (Commissioner ofIncome Tax).The parties shall continue to perform their obligation under this agreementduring arbitration proceedings.The Venue for arbitration will be New Delhi.