There are some important provisions under an arbitration agreement, which are mentioned below: in the pioneer case K.K. Modi v. K.N. Modi and Ors. (1998) 3 SCC 573 was decided by the Supreme Court of Hon`ble that the following attributes must be included in an arbitration agreement: if the parties to the dispute wish to refer their disputes to arbitration, it is important that they indicate the name and address of the arbitrator in clear and clear terms. Such errors may invalidate the arbitration clause. 3. An exchange of acts of appeal and defence in which the existence of the agreement is claimed by one party and not by another party. The existence of a dispute is an essential condition for arbitration.
If the parties have settled the dispute effectively, they cannot refute the transaction and cannot invoke an arbitration clause. The parties may agree on the language of the arbitration and the place where the venue is to be used in the arbitration. If such an agreement does not exist, it is for the court to choose the language(s) and the place. It is the law that determines the main points of disagreement between the parties to the dispute. It is also cited as a substantive right. It is important that the parties mention the law to which they wish to be subject, otherwise it could be a major source of concern for future disputes. This clause defines the seat or place of arbitration. The seat of arbitration is particularly important in international commercial arbitrations, as it establishes the procedural laws governing arbitration.
It is not necessarily the same as the place of the hearings. The place of arbitration is the place where the arbitration proceedings take place, even if the place of the hearings is different. The laws of many countries provide little or no pre-judicial discovery, either in court or in arbitration proceedings.. . . .