( 1 ) IN this application the petitioner has inter alia prayed for appointment of an arbitrator as regards a dispute arising out of a memorandum of Understanding between the parties dated 13-3-2000. The petitioner herein has invoked the arbitration clause as the respondent herein has allegedly failed to pay the commission of 4. 5% on the total draw down funds. Clauses (6), (9) and (10) of the Memorandum of Understanding read thus:that in even of circumvention or breach of this agreement, directly or indirectly, the injured party shall be entitled to damages equal to the maximum fee or commission it should have realised from the said transaction conducted by the party who is in breach of this agreement. The first party agrees to provide the documents as specified in clause 1 above as early as possible failing which the first party shall be liable to pay the second party the said commission as herein above agreed to as the work of the second party would be deemed to be completed. If any additional documents other than those specified above are required by the second party, the first party shall make best endeavour to procure and supply such documents to the second part