Arbitration Agreement in case of Private Reference

[pakistan]

[CENTER][SIZE=3][FONT=Arial][I]Arbitration Agreement in case of Private Reference[/I][/FONT][/SIZE][/CENTER]
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[SIZE=3][FONT=Arial]AN AGREEMENT made this . . . . . . . day of . . . . . . . ., 20 . . . . . . BETWEEN A.B. etc. (hereinafter called the ‘‘First Party’’) of the first part AND C.D., etc. (hereinafter called the ‘‘Second Party’’) of the second part AND G.H., etc. (hereinafter called the ‘‘Third Party’’) of the third part.[/FONT][/SIZE]
[SIZE=3][FONT=Arial]WHEREAS E.F. of . . . . . . . . . . . . . . . . . ., father of the said A.B. and C.D. died intestate leaving movable and immovable property in the hands of the First Party who had been and was at the time of the death of the said E.F. living with him;[/FONT][/SIZE]
[SIZE=3][FONT=Arial]AND WHEREAS G.H. the mother of the parties is still living and always lived with C.D. and is possessed of most of the family jewellery, a list whereof is attached hereto which list is called List A and consists not only of properties which may be described as the [I]stridhan [/I]of the said G.H. but also other jewelleries which should have on the death of E.F. passed to his sons in equal shares;[/FONT][/SIZE]
[SIZE=3][FONT=Arial]AND WHEREAS C.D. has furnished a list (called List B) of all movable property which are in his possession, custody and control and which on the death of the said E.F. should also have passed in equal shares to the parties;[/FONT][/SIZE]
[SIZE=3][FONT=Arial]AND WHEREAS the said parties admit the correctness and truth of the said lists hereto attached;[/FONT][/SIZE]
[SIZE=3][FONT=Arial]NOW, THEREFORE, THIS AGREEMENT WITNESSES:[/FONT][/SIZE]
[SIZE=3][FONT=Arial]1. That the parties hereto refer the question of division of the properties in List A (list of jewelleries furnished by G.H.), List B (list of properties furnished by C.D.) and List C (list of all the immovable property left by E.F. deceased) in equal shares to the sole arbitration of K.L. of . . . . . . . . . . . and declare that the said K.L. shall give his Award not later than three months from the date hereof specifying the articles, jewellery and property which shall hereafter belong to A.B. and C.D.[/FONT][/SIZE]
[SIZE=3][FONT=Arial]2. That in addition to the above matter referred for decision between the parties, the said K.L. shall also decide the question of a suitable maintenance allowance to be paid by A.B. and C.D. to G.H. during her lifetime. The maintenance allowed to G.H. shall be a cash payment payable monthly to G.H. by the said parties in equal shares and shall include the right of residence in one of the houses or a specified part of a house left by E.F. The maintenance allowance shall be in full consideration of the said G.H. not claiming a share in the property of the said E.F., which share she hereby foregoes and relinquishes.[/FONT][/SIZE]
[SIZE=3][FONT=Arial]3. That the Award of K.L. given and signed before the period aforementioned or such further period as the parties shall in writing agree to extend shall bind the parties, their heirs, survivors and representatives, absolutely.[/FONT][/SIZE]
[SIZE=3][FONT=Arial]4. That K.L. shall have all the powers of a sole arbitrator in deciding the question of partition of the properties contained in the three lists, as also the question of the maintenance, etc. to G.H., and the arbitration shall be conducted in all respects according to the provisions as to arbitration contained in the Arbitration Act, 1940.[/FONT][/SIZE]
[SIZE=3][FONT=Arial]5. That the cost of the Reference and Award shall be in the discretion of the said arbitrator, who shall specify in his Award which of the parties among the first parties shall pay and bear the same.[/FONT][/SIZE]
[SIZE=3][FONT=Arial]IN WITNESS whereof the parties hereto have signed at. . . . . . .. . . . the day and the year first above-mentioned.[/FONT][/SIZE]
[SIZE=3][FONT=Arial]Witness: [/FONT][FONT=&quot]  [/FONT][FONT=Arial]Sd. A.B.[/FONT][/SIZE]
[SIZE=3][FONT=&quot]  [/FONT][FONT=Arial]Sd. C.D.[/FONT][/SIZE]
[SIZE=3][FONT=&quot]  [/FONT][FONT=Arial]Sd. G.H.[/FONT][/SIZE]