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Promissory Note

Globalization has expanded the arena of trade across the world. The fast and competitive world requires quick decisions and resolutions to keep in pace, yet, there has to be justification and precision. As human minds and nature is involved in trade and commerce, disputes are inevitable albeit unfortunate aspect of business life. Most of the disputes are resolved through amicable negotiation or settlement. Others are constrained to approach the concerned judicial forums, however on account of long delay and considerable expenditure occurring in the disposal of legal battles there has been tremendous movement towards the resolution of disputes through the alternative forum of arbitrators through which resolution is less cumbersome. The procedure avoids the stress of a conventional trail. It is flexible , speeRs._________ /- On Demand I, Mr.. . . . . . . . . son of Mr. . . . . . . . . . promise to pay Mr.. . . . . . . . . . . . . . . son of Mr. . . . . . . . . . or order, the sum of Rs. . . . . . /- (Rupees______________only) together with interest at . . . . % P.A. for the value received in cash/cheque. All disputes and claims arising out of this promissory Note including its existence, validity or otherwise shall be referred to and finally resolved by arbitration of a sole arbitrator nominated by CNICA, Chennai and its rules shall prevail. The award so rendered shall be final and binding on the parties. The language shall be English and the venue shall be at Chennai.

Clause To Be Incorporated In The Delivery Challan / Invoice

All disputes and claims arising out between us inclusive of present, past and future transaction shall be referred to sole arbitrator nominated by CNICA as per its rules the venue shall be at Chennai and language English.

News and Events

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CNICA's Study series 2018-2019: First talk to be held about Artificial Intelligence and Law on November 23rd at 6:30pm at TNCA club.

The 3rd Study Session to be held on the 8th of June 2012, at 5.30 pm, at CNICA Guindy. : CNICA has been granted APRAG membership. CNICA is proud and happy to be part of the APRAG family.

Arbitration: Arbitration cannot be invoked based on an Unregistered document

CNICA's Study series 2018-2019 : Fifth talk to be held about Community Arbitration on March 15th at 5:30 pm at TNCA Club

CNICA's Study series 2018-2019: Fourth event - on the topic "Use of ADR Methods in Resolving Corporate Finance Disputes" and on the topic " Educating the new generation of practitioners on international arbitration" to be held on February 22nd at 5:00pm at TNCA club.

CNICA's Study series 2018-2019: Third event: An Interactive Panel Discussion on - A Complete Arbitration Experience in the Domestic and International Context to be held on January 31st at 4:30pm at TNCA club.