IDCOL KALINGA IRON WORKS LIMITED (IKIWL) - Tender

( 6 )20. It shall be the responsibility of purchasers to make arrangements forreceiving, transporting and unloading the pig iron at the destination. However, properliaison shall be maintained with Kolkata Office of IKIWL for smooth despatch ofmaterial.21. M/s. IKIWL shall not bear any transit risk.22. Abitration : That in case of disputes between the parties, the matter shall bereferred to the arbitration of Chairman of the Industrial Development Corporation ofOrissa Limited, IDCOL House, Ashok Nagar, Bhubaneswar or to an arbitratornominated by the Chairman of the I.D.C. of Orissa Limited in case the saidChairman for any reason is not in a position to arbitrate. The award of the arbitratorshall be final, binding and conclusive.In case for any reason the arbitration is not possible in accordance with theaforesaid clause, the matter shall not be referred to arbitration at all.That, in all cases the arbitration proceedings shall be conducted atBhubaneswar or in the Factory Site at Barbil and at no other place.That, all legal proceedings in any manner arising out of or in relation to thecontract between the parties can only be initiated in a court of law situated within theterritorial jurisdiction of the State of Orissa and none of the parties shall have theliberty of initiating any legal proceedings any where beyond the territorial limits of theState of Orissa.23. Force Majeure : This order is subject to force Majeure clauses and theperformance of the contract either wholly or in part will be governed by the stand andforce majeure clauses. Any failure of the contract due to strike, cyclones etc. and allother causes beyond the control of the Company, IDCOL / IKIWL shall not beresponsible for the same in any manner whatsoever.