Friday, January 16, 2015

Arbitration Agreement needs no Signature

An arbitration agreement, even though in writing, need not be signed by the parties if the record of
agreement is provided by exchange of letters, telex or other modern means of tele- communication, the Supreme Court stated. "In such agreements, if the identity of the parties is established, and there is a record of agreement, it becomes an arbitration agreement if there is an arbitration clause showing agreement between the parties. Therefore, signature is not a formal requirement under section 7 of the Arbitration and Conciliation Act.

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