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Any dispute or difference of any nature, whatsoever between the Association and any of its members and /or any third party regarding any right, liability, act or omission shall be referred for arbitration of sole arbitrator to be nominated by the Executive Committee of the BAI, which nomination shall be binding upon the parties. The cost of arbitration shall be shared equally by the parties. The award of the arbitrator so appointed shall be final, conclusive and binding upon the parties, subject to the provisions of the Arbitration and Conciliation Act, 1996.

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