T000003628_FileName_02-LPG _rejected_dpr ... - Bharat Petroleum

ARBITRATION CLAUSE:“Any dispute or difference of any nature whatsoever, any claim, cross-claim, counter-claim or setoff of Owner / Vendor against omission or account of any of the parties hereto arising out of or inrelated to this Contract shall be referred to the Sole Arbitration of Director (Marketing) of BPCLor to some officer of BPCL who may be nominated by the Director (Marketing).In the event the Arbitrator being unable or refusing to act for any reason whatsoever, the Director(Marketing) of BPCL shall designate another person to act as an Arbitrator in accordance with theterms of the said Agreement. The Arbitrator newly appointed shall be entitled to proceed with thereference from the point at which it was left by his predecessor.It is known to the parties herein that the Arbitrator appointed hereunder is an employee of theCorporation and may be Share holder of the Corporation.The award of the Arbitrator so appointed shall be final, conclusive and binding on all the partiesto the contract and the law applicable to arbitration proceedings will be the Arbitration andConciliation Act, 1996 or any other enactment in replacement thereof.The language of the proceedings will be English and the place of proceedings will be MumbaiThe parties hereby agree that the Courts in the city of Mumbai alone shall have jurisdiction toentertain any application or other proceedings in respect of anything arising under this Agreementand any Award or Awards made by the Sole Arbitrator hereunder shall be filed, if required, in theconcerned Courts in the City of Mumbai alone.”@@@@@@@@@@@@@@@@@@@@@@@33