Arbitration is a procedure under which the parties agree between themselves to submit a dispute to one or more arbitrators to make a decision on the dispute. When the parties choose to arbitrate, they are opting for a private dispute resolution procedure instead of going to court. Arbitration can present a valuable alternative for dispute resolution through courts, particularly where privacy and confidentiality are paramount. Also it is faster way of resolving a dispute.
We represent clients at all stages of domestic and international arbitration and also for enforcement or challenge of arbitral awards if required. We advise clients on strategy formulation and have conducted several matters involving complex issues of law.
The current Act applicable for arbitration in India is the Arbitration and Conciliation Act, 1996.
An arbitration agreement should be in writing or it may even be put as a clause in a contractual agreement stating to resolve the disputes through arbitration.
Parties to the dispute have to decide and appoint the arbitrator to adjudicate the dispute. In case of any difference of opinion in appointing the arbitrator by the parties, the Court has the power to appoint arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996.
The parties can seek interim reliefs if required in appropriate cases from the court under Section 9 of the Arbitration and Conciliation Act, 1996.
The Arbitrator is not bound by the principles of Civil Procedure Code, 1908 and the Indian Evidence Act, 1872.
The Alternate Dispute Resolution System has gained tremendous importance because the judicial system of the country is stressed out and overburdened with lots of cases. The principles of ADR are successfully adopted by the legal system of the country and arbitration is being seen as a forum to speedily disposal of cases.