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Arbitration as ADR

Arbitration, a form of alternative dispute resolution (ADR), is a technique for the resolution of disputes outside the Courts, where the parties to a dispute refer it to one or more persons (the “Arbitrators”, “Arbiters” or “Arbitral Tribunal”), by whose decision (the “Award”) they agree to be bound. It is a resolution technique in which a third party reviews the evidence in the case and imposes a decision that is legally binding for both sides and enforceable.

Advantages / Features of Arbitration:

(i) Arbitral proceedings and an arbitral award are generally non-public, and can be made confidential.
(ii) In most legal systems there are very limited avenues for appeal of an arbitral award, which is sometimes an advantage because it limits the duration of the dispute and any associate liability.
(iii) An alternative to National Court.
(iv) A private mechanism for dispute resolution.
(v) Arbitrators selected by the parties.
(vi) Final and binding determination of parties’ right and obligations.
(vii) Easy enforcement of awards
(viii) Neutrality.
(ix) Confidentiality.
(x) Expeditious.
(xi) Cost Advantage.

The Catalytic Benefit of Arbitration Under The Centre’s Rules

Arbitration proceedings at the Centre will ensure conclusion of proceeding within 90 days from the date of drawing up of the terms of Reference and communication of the time Schedule to the parties.

It is cost effective as speedy resolution of disputes is ensured, Arbitration fee and administration charges are fixed as per the schedule determined on the basis of valuation of claim and counter claim with ceiling of on the Arbitration fee and fixed Administration expenses.Parties have a wide choice of Arbitrators.Secretarial and other facilities are provided and included in the Administration expenses.