Search results
- Dictionaryarbitration/ˌɑːbɪˈtreɪʃn/
noun
- 1. the use of an arbitrator to settle a dispute: "Tayside Regional Council called for arbitration to settle the dispute"
Powered by Oxford Dictionaries
People also ask
Who oversees the process of Arbitration?
What is arbitration & how does it work?
What is the difference between arbitration and mediation?
What does an arbitrator do?
Nov 10, 2014 · Arbitration is a form of Alternative Dispute Resolution in which the parties work out the disputed issue without going to court. An impartial third party, known as an Arbitrator, is chosen by the parties to listen to their case and make a decision. Learn more about arbitration, its advantages, disadvantages, and how it works.
- Apparent Authority
Contents. Definition of Authority; Examples of Apparent...
- Assignor
A person or entity that signs over or transfers their rights...
- Mediation
Arbitration, on the other hand, may involve a single...
- Actual Authority
In the case of Eva Weaver v Priscilla Deverell, Weaver...
- Republic
A republic is a form of government in which the citizens...
- Joint and Several Liability
Joint and several liability comes into play in a civil...
- Apparent Authority
- Introduction
- Alternative Dispute Resolution Mechanism
- Types of Arbitration
- Stages of Arbitration in India
- Important Concepts Related to Arbitration
- Laws Dealing with Arbitration in India
- Advantages of Arbitration
- Disadvantages of Arbitration
- Why Is Arbitration Preferred More in Modern Days
- Permanent Court of Arbitration
- GeneratedCaptionsTabForHeroSec
Disputes happen frequently between parties in the world of business and in today’s fast-paced commercial world, time is nothing less valuable than money. Both parties suffer losses if the dispute becomes the victim of a long-drawn, complex court battle. The solution to this comes in the form of Alternative Dispute Resolution (ADR) mechanisms that h...
The term ADR or Alternative Dispute Resolution signifies any out of court processes adopted to solve disputes. Arbitration, mediation, conciliation, and negotiation are usually the most common methods of ADR. When the courts are understaffed and overburdened with cases, ADR serves the purpose of providing faster and simpler means of dispute resolut...
There are various types of arbitration depending upon the nationality of the parties, the arbitral award or the arbitrators involved. They are discussed as follows:
The stages of an arbitral process as per the provisions of the Arbitration and Conciliation Act, 1996 are described as follows:
Arbitration Agreement and its essentials
Arbitration agreement is a written agreement between the parties whereby both the parties resolve to submit themselves to arbitration in the event of a dispute. It has been defined in Section 2(1)(b) of the Arbitration and Conciliation Act, 1996. According to this provision, “Arbitration Agreement” means an agreement referred to in Section 7. And according to Section 7(1), “arbitration agreement” means an agreement by the parties to submit to arbitration all or certain disputes which have ari...
Seat of arbitration
The place of arbitration is referred to as the seat of arbitration. Usually, both parties agree to a seat of arbitration within the terms of the arbitration clause or arbitration agreement itself. The importance of the seat of arbitration is paramount because it is the seat of arbitration that governs the arbitration rules and procedures to be followed in resolving the dispute in case the parties have not predetermined any procedure. In other words, the seat of arbitration determines the situ...
Venue of arbitration
Sometimes confusion arises when the words ‘venue’, ‘seat’, ‘place’ of arbitration get used interchangeably in the arbitration agreement or arbitration clause. Although the seat of arbitration and the place of arbitration mean the same thing, the venue of arbitration usually means the convenient geographical place where the arbitration proceedings are being conducted. So, the seat of arbitration refers to the place whose rules and procedures are to be applied to the arbitration proceedings and...
Arbitration and Conciliation Act, 1996
In India, the main law which governs arbitration is the Arbitration and Conciliation Act, 1996 which came into force on 22nd August, 1996 and extends to the whole of India. In the 246th Report of the Law Commission, it was noted that “The 1996 Act is based on the UNCITRAL Model Law on International Commercial Arbitration, 1985 and the UNCITRAL Conciliation Rules, 1980.” After the enactment of the Arbitration and Conciliation (Amendment) Act, 2015 and 2019, recently the Arbitration and Concili...
New Delhi International Arbitration Centre Act of 2019
The New Delhi International Arbitration Centre Act, 2019 was enacted to establish the New Delhi International Arbitration Centre. This centre is meant to act as an independent and autonomous institutionalised arbitration centre and for acquisition and transfer of the undertakings of the International Centre for Alternative Dispute Resolutionfor the more efficient and better management of arbitration. The New Delhi International Arbitration Centre has also been declared as an institute of nati...
Arbitration Council of India
The Arbitration and Conciliation (Amendment) Act, 2019 under its Clause (10) introduced Part IA in the Arbitration and Conciliation Act, 1996. This part consists of Sections 43A to 43M and inter alia, speaks about the setting up of the Arbitration Council of India as a body corporate with headquarters in Delhi. The Council will be entrusted to perform functions and discharge duties as per the provisions of this Act. Part 1A is yet to come into force as the same has not yet been notified by th...
The advantages of arbitration are discussed as follows: 1. Fair process: In arbitration, both parties usually decide or appoint the arbitrators. This ensures dispute resolution by a fair and impartial third party, unlike in litigation where the parties do not have much control over the judge or jury selection. 2. Timely procedure:Arbitration procee...
The disadvantages of arbitration are discussed as follows: 1. No appeals:Arbitral award is binding on both the parties. So, even if one party feels that the award was unjustified or biased, they mostly cannot appeal against it. Only in very limited circumstances, the arbitral awards are set aside. 2. Evidence Rules:In a traditional court, usually t...
Indian laws related to arbitration and other alternative dispute resolution (ADR) mechanisms have been amended many times to adapt the country’s legal scenery to the evolving international commercial law jurisdictions in the interest of integrating India with the world’s business community. Concerted efforts are being made by both the government an...
The Permanent Court of Arbitration (PCA) was established way back in 1899. It serves as an intergovernmental organisation with over 122 contracting parties. It is situated at the Peace Palace, Hague. Its main aim is to adopt arbitration and other alternate dispute resolution mechanisms to settle disputes between the governments of countries. Today,...
Arbitration is a method of resolving disputes between parties without going to court, with the help of arbitrators appointed by both sides. Learn about the types, stages, laws, advantages and disadvantages of arbitration in India and abroad.
- Rachit Garg
ARBITRATION definition: 1. the process of solving an argument between people by helping them to agree to an acceptable…. Learn more.
Arbitration is a formal method of dispute resolution involving a third party neutral who makes a binding decision. The third party neutral (the 'arbitrator', 'arbiter' or ' arbitral tribunal ') renders the decision in the form of an ' arbitration award '. [1] An arbitration award is legally binding on both sides and enforceable in local courts, ...
Arbitration is a private dispute resolution procedure in which parties agree to submit their dispute to one or more arbitrators who make a binding decision. WIPO offers arbitration services for intellectual property disputes, with neutral, confidential and enforceable awards.
Aug 27, 2024 · arbitration, nonjudicial legal technique for resolving disputes by referring them to a neutral party for a binding decision, or “award.” An arbitrator may consist of a single person or an arbitration board, usually of three members.
Arbitration is the act of arbitrating, or settling a dispute by an impartial third party or panel. Learn the etymology, history, and examples of arbitration, and compare it with related words like arbiter and arbitrary.
