Arbitration and Mediation Laws
Arbitration is a quasi-judicial process by which dispute that have arisen between persons can be settled without going to Court but the decision of the Arbitrator shall be as binding as the decision of the Court.
Arbitration is generally the preferred way of settlement because of mainly two reasons i.e. time saving and cost effectiveness. It is time saving as because the judicial system of India is overburdened with cases and due to a huge backlog of cases the pendency is increasing because the ratio of cases being disposed off is quite less as compared to the cases that are being added and thus leading to an overall increase in the time period.
Whereas in case of Arbitration the parties generally mutually decide that in case of any dispute they will first approach an arbitrator to resolve the issues.
The second reason for Arbitration being preferred over Court case is because of cost effectiveness. The good and prominent lawyers who fight the case on behalf of their clients charge a huge percentage as their fees and it often happens that the poor and middle class persons cannot afford whereas Arbitration fees is quite less.
So therefore Arbitration is getting more popularised and therefore the laws relating to Arbitration has been amended to keep up with changing times.
Vidhikarya – Legal Assistance
The provision of Arbitration is governed by the Arbitration Act (as amended up to date) But the root of arbitration is seeded in the Contract that has been agreed by the parties to take the help of Arbitrator in case of dispute can be done in either way by mentioning it in the original contract itself or by entering in to a separate contract of Arbitration. We will assist and guide you in the preparation of the contract and after the happening of an event for which the arbitration clause is triggered, we will guide you through the entire process of arbitration and in case there is any legal infirmity after the arbitration has been carried out we will take Legal remedies to solve the defects.
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