Any dispute arising out of or in connection with this contract, including any question regarding its existence, validity, interpretation, performance, or termination, shall be resolved through arbitration administered by Settle ADR Platform in accordance with the Arbitration Rules of Settle ADR Platform ("SettleADR Rules") for the time being in force, with the seat of arbitration shall be ------------------, and the Tribunal comprising one or more arbitrators appointed in accordance with the said SettleADR Rules. The language of the arbitration proceedings shall be either English or the vernacular language agreed upon by the parties. The law governing the arbitration agreement shall be the Arbitration and Conciliation Act, 1996. By agreeing to this arbitration clause, the parties acknowledge and consent to the resolution of disputes through arbitration in accordance with Settle ADR Platform's rules and procedures and the Arbitration and Conciliation Act, 1996.
In the event of any dispute arising under or in connection with this agreement, the parties hereby agree to first attempt to resolve the dispute through mediation using the Settle ADR Platform's services. The parties will jointly select a mediator from the Settle ADR Platform's panel or, if unable to agree within -------------, accept the mediator appointed by the platform. Mediation will be conducted in accordance with the Settle ADR Platform's mediation rules and procedures, with the parties agreeing to adhere to them. The parties acknowledge that mediation is a condition precedent to initiating legal or other dispute resolution proceedings related to the dispute. Any settlement reached during mediation will be binding and enforceable in accordance with applicable laws.