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What is Arbitration?

  • Arbitration is a mode of settling disputes relating to commercial transactions without referring the disputes to a civil Court. In India, arbitration proceedings are governed by Arbitration & Conciliation Act of 1996.
  • In order to refer any dispute to arbitration, parties must agree in writing to refer the matter to arbitration. Without any agreement in writing. arbitration process cannot be commenced.
  • Parties may also agree the language of arbitration and place of arbitration. Place of arbitration can be any place, including a place outside India.
  • Once any agreement is signed with arbitration clause, parties are precluded from approaching civil court for settling any disputes.
  • Arbitration is contract specific and general arbitration cannot be agreed.
  • In case of international commercial transactions, parties can also choose the arbitration as per International Chamber of Commerce Rules or United Nations Commission on International Trade Law (UNCITRAL) guidelines.
  • An order passed by arbitrator (called award) can be challenged in the High Court, however on very limited grounds.
  • Including arbitration clause in agreement is advised in contracts involving technical matters, requiring special knowledge or skill in the relevant subject.

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