JUDGMENT :

Jaishree Thakur, J.

This First Appeal against the Order has been filed against the judgment dated 5.11.2012 passed by the Additional District Judge, Chandigarh, whereby a petition filed by the appellants under Section 34 (2) (iv) (v) and 2 (b) of the Arbitration and Conciliation Act, 1996 (for short 'the Act') against the arbitral award dated 6.3.2009 has been dismissed.

2. In brief, the facts are that in September, 2002, the appellant- Corporation entered into a Memorandum of Understanding (MoU) with the respondent at Chandigarh to secure export orders in the name of the appellant for the commodities identified under the said MoU. Thereafter, on 9.9.2002, the appellant entered into separate Associate Agreements with the respondent company for export of wheat and rice to foreign countries. As per the said Associate Agreements, the respondent was to pay for the value of the goods at the prevalent market rate declared by the Food Corporation of India for export of wheat. The respondent was to remit the value of the goods by cheque payable to the appellant within 48 hours of faxing of the copy of the order. For this, the respondent was entitled to service charges as specified