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An Act to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral awards as also to define the law relating to conciliation and for matters connected therewith or incidental thereto.
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An Act to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral awards as also to define the law relating to conciliation and for matters connected therewith or incidental thereto.
- Introduction
- Applicability of The Arbitration and Conciliation Act, 1996
- Scheme of The Arbitration and Conciliation Act, 1996
- Legal Analysis of The Arbitration and Conciliation Act, 1996
- Conclusion
- Frequently Asked Questions
- References
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ADR means Alternative Dispute Resolution which 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. It includes methods like arbit...
The Act applies to the whole of India but Part I, Part II, Part III and Part IVwill extend to Jammu and Kashmir only if they relate to international commercial arbitration or conciliation. The Act was enforced on 22nd August 1996 but the ordinance was promulgated by the President on 16th January 1996. The other two ordinances i.e., Arbitration and ...
The Act is divided into four parts: 1. Part I (Sections 2-43) – Applies to the place of arbitration in India. The award granted is treated as a domestic award. 2. Part II (Sections 44-60) – Enforcement of foreign awards. 3. Part III (Sections 61-81) – Conciliation 4. Part IV (Sections 82-86) – Supplementary provisions It contains three schedules: 1...
Arbitration
It is defined under Section 2 (1)(a) of the Act. It is an alternative to litigation in courts and is advantageous as it provides flexibility and confidentiality. According to Black Law Dictionary, it means a method of resolving disputes which includes two parties and a neutral third party whose decision is binding on both parties. Section 8 of the Act talks about the powers of any judicial authority to refer a case to arbitration. It must be followed by an arbitration agreement. The Hon’ble S...
Arbitral award
It is a final determination of a claim or a part of it or a counter-claim awarded by the arbitral tribunal. It must be written and duly signed by the members of the arbitral tribunal as given under Section 31of the Act. The Section further gives the power to the tribunal to make interim awards for any matter. In case of payment of money, it can award the interest which seems reasonable, just and fair to the tribunal. Section 32 of the Act empowers the arbitral tribunal to terminate the procee...
Foreign awards
Foreign awards are given in the disputes arising out of some legal relations which can either be contractual or not and are considered under any commercial law of the country. In simple terms, it means the awards given in International commercial arbitration. Foreign awards are granted in foreign countries and are enforceable in India under the Act. It is divided into two chapters: 1. The New York Convention (1958) 2. The Geneva Convention (1927) The foreign award related to the New York Conv...
The Act deals with alternate dispute resolution methods which are effective, cost-friendly, and time-saving. Due to the pendency of cases and rigid procedural laws of the courts and to prevent litigation, people nowadays generally prefer settling a dispute outside the courts with the help of ADRs like arbitration, conciliation, mediation etc. The A...
What is arbitration? According to Black Law Dictionary, it means a method of resolving disputes which includes two parties and a neutral third party whose decision is binding on both parties. What were the previous acts related to arbitration in the country? There were 3 acts dealing with the arbitration in India: 1. The Indian Arbitration Act, 194...
Ashwinie Kumar Bansal & Rahul Kaushik “Arbitration & ADR”, Universal Law Series.https://www.advocatekhoj.com/library/bareacts/An overview of the Act that covers arbitration and conciliation as alternate forms of dispute resolution in India. It covers the applicability, objectives, scheme, definitions, provisions, cases and FAQs of the Act.
Full text containing the act, Arbitration and Conciliation Act, 1996, with all the sections, schedules, short title, enactment date, and footnotes.
The Arbitration and Conciliation Act 1996 is an Act that regulates domestic arbitration in India. [1] . It was amended in 2015 and 2019. [1] The Government of India decided to amend the Arbitration and Conciliation Act, 1996 by introducing the Arbitration and Conciliation (Amendment) Bill, 2015 in the Parliament.
A comprehensive overview of the history, scope, and amendments of the Arbitration and Conciliation Act, 1996, which governs domestic and international arbitration in India. Learn about the opportunities, roles, and qualifications for company secretaries in arbitration and online dispute resolution.
Aug 22, 1996 · The web page provides the full text of the Indian law that regulates domestic and international arbitration and conciliation. It also includes the preamble, definitions, scope, and other provisions of the act.
