Arbitration & Conciliation
India's arbitration laws are governed by the Indian Arbitration and Conciliation Act, 1996. The United
Nations Commission on International Trade Law (UNCITRAL) Model Law on International
Commercial Arbitration, which was enacted in 1985, serves as its foundation. The Arbitration Act of
1940, the Arbitration (Protocol and Convention) Act of 1937, and the Foreign Awards (Recognition
and Enforcement) Act of 1961 were the three separate enactments that contained the prior
statutory provisions on arbitration. The 1940 Arbitration Act and the 1937 and 1961 Acts have been
superseded by the 1996 Arbitration and Conciliation Act.
The arbiter is the individual designated to oversee the arbitration procedure.
Appointment of Arbitrator is done under provision of section 11 of Arbitration and Conciliation act 1996. While, the person appointed for the process of Conciliation is called conciliator. Appointment of conciliator is done under the provisions of section 64 of Arbitration and Conciliation act 1996.
Both arbitrator and conciliator are guided by the principle of objectivity, fairness, and justice. They conduct the proceedings in such a manner which are considered fair and appropriate. They help to settle the dispute between the parties.
ADR provides a viable option for those who prefer to stay out of court and has many potential advantages for most litigants, including:
- 1. Reduced cost
- 2. Efficient resolution
- 3. Less emotional stress
- 4. Flexibility with rules and procedures
- 5. Control over the results
Legalvisor provides various services under the law of arbitrations as follows:
- Application before the High Court for appointment of arbitrator
- Petition before the court seeking Interim relief before or at the stage of arbitration proceedings
- Petition under section 34 of Arbitration Act, 1999 seeking set aside of the award
- Execution petition seeking realisation of the arbitration award before civil court.
- Appear before arbitrators across the country
- Arbitration in Commercial disputes
- Domestic and International Arbitration
- Enforcement of Awards in India and outside India
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