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“Pay if Paid” & “Pay when Paid” clause in back-to-back agreements

INTRODUCTION Back-to-back agreements, also known as parallel contracts, are a common practice in the business world. Most of the real estate companies and Tech companies enter into back to back agreements with the sub-contractors. These agreements involve two separate contracts, one agreement between a principal and a main contractor and other agreement between the main

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Green Bonds and India

What are green bonds? The Organisation For Co-operation and Development (OECD) defines green bonds as a type of bond which “is a commitment to exclusively use the funds raised to finance or re-finance “green” projects, assets, or business activities.”1 Essentially it is a fixed income debt instrument which is issued for the purpose of receiving

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Arbitral Tribunal at par with Civil Courts: Scope of arbitrators to Grant Interim Relief u/s 1 7 of Arbitration and Conciliation Act , 1 9 9 6

INTRODUCTION Arbitration is a method of alternate dispute resolution, where parties to a commercial transaction enter into an agreement to resolve the disputes arising between them by appointing impartial persons referred to as Arbitrators. The Arbitration and Conciliation Act of 1996 aims to cut down judicial intervention in arbitration proceedings i.e. to minimize the burden

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Can commercial Court proceed in a matter with summary trial?

The concept of Summary trial was first brought forward in The Law Commission report where it recommended in its 253rd Report the introduction of a new summary judgment procedure that would allow the courts to resolve any commercial dispute claim without recording oral testimony, provided the application for summary judgment was submitted prior to the

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Analysing the Conundrum under Section 34 of the Arbitration Act

Introduction: Arbitration as a mode of Alternate Dispute Resolution came into existence with a very important objective, i.e., to speed up the process of dispute resolution.[1] To meet this objective the legislation and Courts have time and again made efforts to minimize the interference of the Court in the arbitration process.[2] Whenever an arbitral award

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Explicative analysis on subject matter of non-arbitrable disputes

Introduction: Globally, arbitration has taken over as the standard method for resolving commercial disputes. By allowing them to choose a fair and adaptable arbitration forum, it gives parties a significant amount of control. However, before courts and arbitral tribunals, the arbitrator’s capacity to arbitrate is always given primary priority. In various situations, the word “arbitrability”

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