Shyam Divan,learned senior counsel appearing on behalf of the respondent,on the other hand,submitted that notwithstanding the fact that the period fixed originally under the Charter Party or under the Addendum dated 29th June,1998 had come to an end,the subsequent conduct of the parties goes to show that charter of the vessel by the appellant beyond 31st August,1998 continued to be governed by the terms and conditions stipulated in charter party dated 6th May,1997 and,therefore,an arbitration agreement did exist between the parties