ORDER :

Sanjeev Narula, J.

1. The present petition under Section 11(5) of the Arbitration and Conciliation Act, 1996 seeks the appointment of an Arbitrator for the adjudication of the dispute that is stated to have arisen between the parties. The arbitration clause is contained in the General Conditions of Contract (GCC) of the franchise agreement, in Article VIII which reads as under:

"All dispute and differences relating to payment of any nature shall be settled through mutual amicable discussions and negotiation, which the Parties undertake to conduct for at least a period of 10 days from the date of receipt of such notice of such dispute from the aggrieved Party. If efforts at conciliation fail then any dispute arising out of or in connection with this Agreement shall be referred to and finally resolved by the arbitrator mutually appointed as per the Arbitration & Conciliation Act. The provisions of the Arbitration & Conciliation Act, 1996 shall govern the arbitration proceedings. The venue for arbitration will be Delhi. All arbitration proceedings shall be conducted in English. The arbitration award shall be final and binding on the Parties, without recourse to further appeals an