Appointment of arbitrators.11. (1) A person of any nationality may be an arbitrator, unless otherwise agreed by the parties.(2) Subject to sub-section (6), the parties are free to agree on a procedure for appointing the arbitrator or arbitrators.(3) Failing any agreement referred to in sub-section (2), in an arbitration with three arbitrators, each party shall appoint one arbitrator, and the two appointed arbitrators shall appoint the third arbitrator who shall act as the presiding arbitrator.[(3A) The Supreme Court and the High Court shall have the power to designate, arbitral institutions, from time to time, which have been graded by the Council under section 43-I, for the purposes of this Act:Provided that in respect of those High Court jurisdictions, where no graded arbitral institution are available, then, the Chief Justice of the concerned High Court may maintain a panel of arbitrators for discharging the functions and duties of arbitral institution and any reference to the arbitrator shall be deemed to be an arbitral institution for the purposes of this section and the arbitrator appointed by a party shall be entitled to such fee at the rate as specified in the Fourth Schedule:Provided further that the Chief Justice of the concerned High Court may, from time to time, review the panel of arbitrators.](4) If the appointment procedure in sub-section (3) applies and-
(a)
-
a party fails to appoint an arbitrator within thirty days .... To read the full section download the app from Google Play store
CAclubindia
