1st May 2024 (14 Topics)
1
May
2
May
3
May
4
May
6
May
7
May
8
May
9
May
10
May
11
May
13
May
14
May
15
May
16
May
17
May
18
May
20
May
21
May
22
May
23
May
24
May
25
May
27
May
28
May
29
May
30
May
31
May
Indian Arbitration System
Context
Vice President (VP) of India JagdeepDhankhar underlined the need for reforming the Indian arbitration system.
What is Alternative Dispute Resolution?
- Alternative Dispute Resolution (ADR) includes various methods of settling a dispute without getting into the intricacies of the court.
- It is a method where parties try to resolve their disputes privately in front of a third-person expert.
- The decision is binding on the parties like the decision of the court.
- Type of ADR process: Arbitration, Mediation, negotiation, and conciliation
- Arbitration:
- It is a quasi-judicial proceeding.
- In this form of dispute resolution, the parties decide the rules of the process and appoint their own judge (referred to as the ‘arbitrator’), who decides the matter between the parties
- The decision of the Arbitral Tribunal is referred to as an “Award”and has the same effect as that of an order of the court.
- Arbitration in India is governed by the Arbitration and Conciliation Act, 1996.
- Issues in the system: Complex, an additional tier in the conventional litigation ladder, lack of trust, inefficiency.
|
Arbitration and Conciliation Act, 1996.
|
More Articles
Courses
Study
Notes
Home
Resources
More
