Other Forms
Promissory Note
Rs._________ /-
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.
