3. If the owners do not complete this work within the time frame set out in the above provision, the owners pay on the owner`s choice, but without prejudice to the other legal rights of the owner and other provisions of the owner, damages liquidated to the tune of Rs………. per day (but subject to a ceiling of 2% of the total amount of the contract payable by the owner under this agreement) for the period between the specified period for completion of the work. The owners expressly agree and authorize the owner to deduct, if necessary, from such liquidated damages from a staggered payment due and to pay to the owners within the meaning of this agreement. 11. Any dispute or dispute concerning specifications, constructions, drawings and the quality of the treatment or equipment used in the work or any other issue raised by or in connection with the contract, design, drawings, specifications, specifications or any other form related to the agreement or execution of the work, the arbitration procedure of two arbitrators is referred to the exclusive arbitration of two arbitrators during the course of the or after completion or task. , one that must be named by each party. Referees appoint an arbitrator before entering the reference. The parties would cooperate and conduct evidence, etc. with the arbitrators, and if one of the parties did not cooperate or remain absent from the reference, the arbitrators or the arbitrator would be free to proceed with the former reference party. The arbitrator maintains records of the evidence presented orally by the parties and submits it to the Tribunal at the time of sentencing, as well as documents submitted by the parties or their witnesses. The referee`s or arbitrator`s procedure must be noted in English and a copy of co2 must be sent to each party. Arbitrators or arbitrators are entitled to appoint reporters for the arbitration registration procedure, consult an expert, after prior notification to the parties of the reference, the costs that are borne equally by the parties.
The arbitrator`s fees appointed by a party are borne by the party, so that the appointment and costs of the arbitrator and other arbitration costs are borne equally by the parties. Arbitrators issue their award based on the decision within six months of the date of introduction to the reference. If the arbitrators have allowed their time to pass without awarding a sentence or have sent a written notice to a party or arbitrator indicating that they cannot give their consent, the arbitrator must immediately refer the reference. The referee takes his distinction in the months of tour after the submissions on the reference or within such an extended period, as the parties may agree. The arbitral award of the arbitrator is final, conclusive and binding on the parties and cannot be challenged for any other reason, except for collusion, fraud or an error that is visible on the face of the award.
10 April 2021 BBP Admin Uncategorized
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