TSSIA – ALTERNATE DISPUTE RESOLUTION CENTER (TAC)
The TSSIA ADR Centre (TAC) is established by the Thane Small Scale Industries Association for the purposes of propagating alternate dispute resolution methods to assist primarily SMEs in resolving their commercial disputes.
TAC does not itself resolve disputes; it administers the resolution processes including constituting Arbitral Tribunals in accordance with the various rules framed by it. TSSIA has appointed a panel of Arbitrators consisting of Legal Professionals, Management Experts, Technical Experts and also Financial Experts. Mr. Sandeep Parikh – Vice President is the Chairperson of the TSSIA ADR Committee, which supervises the functioning of the ADR Center and its Secretariat.
TAC recommends to all parties desirous of making reference to arbitration by the TAC, the use of the following arbitration clause in writing in their contracts:
“Any dispute or difference whatsoever arising between the parties out of or relating to the construction, meaning, scope, operation or effect of this contract or the validity or the breach thereof shall be settled by arbitration in accordance with the Rules of Arbitration of the TAC and the award made in pursuance thereof shall be binding on the parties.”