[Repeals and amendments.] Rep. by the Repealing and Amending Act, 1945 (6 of 1945), s. 2 and Sch. I.SCHEIMPLIED CONDITIONS OF ARBITRATION AGREEMENTSTHE FIRST SCHEDULE(See section 3.)IMPLIED CONDITIONS OF ARBITRATION AGREEMENTS1. Unless otherwise expressly provided, the reference shall be to a sole arbitrator.2. If the reference is to an even number of arbitrators, the arbitrators shall appoint an umpire not later than one month from the latest date of their respective appointments.3. The arbitrators shall make their award within four months after entering on the reference or after having been called upon to act by notice in writing from any party to the arbitration agreement or within such extended time as the Court may allow.4. If the arbitrators have allowed their time to expire without making an award or have delivered to any party to the arbitration agreement or to the umpire a notice in writing stating that they cannot agree, the umpire shall forthwith enter on the reference in lieu of the arbitrators.5. The umpire shall make his award within two months of entering on the reference or within such extended time as the Court may allow.6. The parties to the reference and all persons claiming under them shall, subject to the provisions of any law for the time being in force, submit to be examined by the arbitrators or umpire on oath or affirmation in relation to the matters in difference and shall, subject as aforesaid, produce before the arbitrators or umpire all books, deeds, papers, accounts, writings and documents within their possession or power respectively, which may be required or called for, and do all other things which, during the proceedings on the reference, the arbitrators or umpire may require.7. The award shall be final and binding on the parties and persons claiming under them respectively.8. The costs of the reference and award shall be in the discretion of the arbitrators or umpire who may direct to, and by whom, and in what manner, such costs or any part thereof shall be paid, and may tax or settle the amount of costs to be so paid or any part thereof and may award costs to be paid as between legal practitioner and client.
Eitzen Bulk A/S Vs. Ashapura Minechem