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Arbitration Notice
Arbitration Notice
Date ……………………
……………………..
…………………….
………………………
…………………….
Dear Sirs
Under instructions from and on behalf of my client, HDFC Bank Ltd ., I address you as follows:
You entered into a _____ Agreement dated ________(5th December 1999) with our client above-
named and borrowed an amount of Rs.______ as ____ Loan and agreed, inter alia, to pay to said
amount in Monthly Equated Installments for Rs. ___ commencing from _____ (5th January 2000).
The tenure of the said Lease was for __ months from the date of commencement.
You have failed and neglected to perform your part of the obligation, defaulted in payment of the
Equated Monthly Installments. You have, therefore, committed breaches of the Agreement and
defaults in payment and are liable to the consequences, thereof.
My client has, therefore, instructed me to terminate and determine the said ___ Loan Agreement
which I hereby do. You have also become liable to pay Monthly Installments for the unexpired
period of ____ Loan and other charges as per the terms of the agreement.
After giving credit for all sums paid by you, a sum of Rs. _______(words) is due and payable by
you to my client.
The said agreement contained a clause to the effect that all disputes and differences shall be
referred to a sole Arbitrator to be appointed by my client
Under the clause of the said contract, my client has appointed Mr. ______, Retired-Judge
(Address). As the sole Arbitrator
Under the provisions of section 11 of the Arbitration and Conciliation Act 1996 we hereby give
you notice to concur with the appointment of _______, _____, as the Sole Arbitrator in the matter
of the differences and disputes that have arisen between the parties herein and the same be
referred for adjudication to him
My client has, therefore, instructed me to call upon you which I hereby do that if you fail
to pay the aforesaid sum with further overdue compensation at the agreed rate from _____
until payment within 7 days from the receipt hereof, my client will be compelled to initiate
appropriate legal proceedings including referring the matter to arbitration in terms of the
relevant Arbitration Clause contained in the Agreement without any further reference to
you.
Yours faithfully
Advocate
Copy forwarded to:
HDFC Bank Limited