Universal's Concise Commentary - The Information Technology Act, 2000
Supreme Court on Banking Law
Author : S N Gupta
Author : S N Gupta
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This Licence Agreement is between LexisNexis, a division of RELX India Private Limited ("we or us") and the individual or company to whom LexisNexis has agreed to supply the online and/or digital services and materials ("you" or "Subscriber"). The following terms and conditions govern your use of the online services and/or digital services (such as LexisNexis Red) supplied by LexisNexis (the "Services") and the materials and content available therein ("Materials").
Any dispute arising out of or in connection with these General Terms and Conditions and the Additional Terms, including any question regarding its existence, validity or termination (each, a “Dispute”), shall be referred to the Delhi International Arbitration Centre and finally resolved by arbitration in accordance with the Delhi International Arbitration Centre (Arbitration Proceedings) Rules (the “DAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The language of the arbitration shall be English. The seat of arbitration shall be New Delhi. The arbitral tribunal shall consist of a sole arbitrator appointed in accordance with the DAC Rules. The arbitrator so appointed: (i) shall be fluent in English; (ii) shall be a licensed and independent legal practitioner; and (iii) should, to the extent practicable, have experience in handling disputes relating to the online information industry. The Parties hereby record their understanding and intent that, in an arbitration conducted in terms of this clause, each Party will bear its own expenses related to the arbitration and that administrative costs, miscellaneous expenses and arbitrator fees will be borne equally by the Parties, subject to the arbitral award. Where the arbitral award is for the payment of money, the sum for which the award is made shall include interest at the rate of two per cent higher than the current rate of interest (as defined in the Arbitration and Conciliation Act, 1996, as amended) prevalent on the date of award, for the period from the date on which the cause of action arose and up to the date on which the award is made.