This Act makes provision for the resolution of disputes by arbitration. The authority of an arbitrator or umpire appointed by or by virtue of an arbitration agreement shall, unless a contrary intention is expressed in the agreement, be irrevocable except by leave of the Court. “Arbitration agreement” means a written agreement to submit present or future differences to arbitration. Unless a contrary intention is expressed therein, every arbitration agreement shall be deemed to contain a provision that the arbitrator or umpire shall have the same power as the Court to order specific performance of any contract other than a contract relating to land or any interest in land.
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