In case the parties wish to arbitrate or mediate an existing dispute and there is no agreement between them for the same, the parties can enter into a VIA Mediation or Arbitration agreement.
Arbitration Clause for existing dispute
If the dispute has not been resolved by such negotiation, the parties shall submit the dispute to Vakeel International Arbitration and Mediation Centre (hereinafter referred to as Center) administered mediation, upon terms set by the Centre.
A, B of _______________________________________
X,Y of _______________________________________
hereby agree to refer all disputes and differences between us arising out of or in connection with the contract between us dated _____________________________________ for final resolution in accordance with the Arbitration and Conciliation Act, 1996 by an arbitrator appointed/nominated by the authorized representative/Director of ___________ through/via Vakeel International Arbitration and Mediation Centre.