Mere Use Of Expression “Arbitration” Insufficient To Constitute A Binding Agreement U/S 7 Of A&C Act: Calcutta High Court

The Calcutta High Court has ruled that the "mere use of the expression 'arbitration' is insufficient to constitute a binding arbitration agreement." The court's decision provides much-needed clarity on the matter and reinforces the need for a clear and explicit agreement to arbitrate. The ruling highlights the importance of a well-drafted contract.