Search Results for: arbitration over litigation

Arbitration over Litigation an advantage

The choice between ‘arbitration’ and ‘litigation’ is not one that can be made in a vacuum. Arbitration can and should be a flexible and efficient procedure for adjudicating disputes.

ARBITRATION AGREEMENTS IN UNSTAMPED CONTRACTS

Section 7 of the Arbitration and Conciliation Act, 1996 defines an arbitration agreement as “an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.

STAGES OF ARBITRATION IN INDIA

Arbitration is a dispute resolution process outside the traditional court system, gaining prominence in India due to its efficiency and flexibility. The Act governing the arbitration proceedings in India namely “The Arbitration and Conciliation Act, 1996”.

Pending suit referred to arbitration

A pending suit can be sent for arbitration under Section 8 of the Arbitration and Conciliation Act, 1996. This section states that a party to a case may, at any time after the commencement of the suit, apply to the court for an order referring the dispute to arbitration.

Why to choose Arbitration?

There are a number of distinguishing features that often persuade parties to choose arbitration as opposed to court litigation for the resolution of their dispute.

Arbitration Overview: Meaning and Importance

Arbitration is a form of dispute resolution which make both the parties mutually agree on the procedure of arbitration. Arbitration the most efficient form of remedy for settlement of dispute as it saves a lot of time and resources.

Is judicial intervention in arbitration justified?

The court’s intervention can be justified by saying that it protects the rights of the parties or it puts eyes on the arbitration proceedings to prevent any injustice.

Benefits of Arbitration

Though arbitration has various advantages over traditional litigation but it is important to consider all of the options when preparing to initiate arbitration.

Arbitration: Rising alternative dispute resolution mechanism

The resolution of a dispute via an arbitration mechanism saves time and cost. The proceedings are conducted as agreed by the parties or accordingly. However, if the parties are not satisfied with the award, then it can be challenged also.

Role of Mediation in the Insolvency Process

Specifically in insolvency proceedings, mediation as a tool can be employed to resolve issues and clear the bottleneck in the resolution process which had led to delays.