(1) The Government, if it finds necessary, may be form a panel of expert of Arbitrators from amongst the names of retired Judicial Officers (i.e District and Sessions Judges) and retired Group-‘A’ Government Officers having minimum three years experience of dealing with such cases, as it may consider necessary.
A panel of Arbitrators for each district shall be drawn by the Chairman of each Council from amongst these empanelled Arbitrators.
(2) The Arbitrator so empanelled shall provide an alternate dispute resolution services, as per sub-section (3) of section-18 and the provisions of the Arbitration and Conciliation Act, 1996 (26 of 1996) shall then apply to the dispute as if the arbitration was in pursuance of an arbitration agreement referred to in sub-section (1) of section 7 of the Arbitration and Conciliation Act, 1996.
(3) The Arbitrator shall have jurisdiction to act as Arbitrator or Conciliator under subsection (4) of section 18 of the Act in a dispute between the supplier located within its jurisdiction and a buyer located anywhere in India.
(4) Every reference made under section 18 of the Act shall be decided within a period of ninety days from the date of making such reference.
(5) The Arbitration fee to be levied by the Arbitrator shall be at such rates as may be approved/notified by the Government and shall be shared by both the applicant and the respondent.
(6) The Arbitrator shall recommend the report to the Council for consideration and passing of Award.