(1) Notwithstanding otherwise contained in the agreement, the process of appointing arbitrators must be started within 30 days from the date when the reason for the settlement of a dispute  through arbitration arises.
(2) In case the agreement mentions the names of arbitrators, they themselves shall be recognised as having been appointed as arbitrators.
(3) In case the agreement has made any separate provision for the appointment of arbitrators, arbitrators shall be appointed accordingly.
(4) Notwithstanding otherwise contained in the agreement, each party shall appoint one arbitrator each and the arbitrators shall appoint the third arbitrator who shall work as the chief arbitrator.