TYPES OF ARBITRATION

TYPES OF ARBITRATION. ADR (ALTERNATE DISUTE RESOLUTION).

INTRODUCTION:-. In arbitration a dispute is submitted to the ‘arbitral tribunal’ and not to a regular civil court or otherwise. The arbitral tribunal must give a decision on the dispute and this decision is thus binding on the parties in the dispute since they have no grounds to appeal. When contrasted with the traditional approach of a judicial proceeding which ordinarily happens in a Court; and has to go through a lengthy process, and which usually leaves one party or both parties exhausted financially. An arbitration proceeding is not formal and does not involve judicial proceeding which can save a lot of time for the parties..

DEFINITION: -. “Arbitration is a form of Alternative Dispute Resolution (ADR)” . The concept of arbitration means resolution of disputes between the parties at the earliest point of time without getting into the procedural technicalities associated with the functioning of a civil court. The dictionary meaning of Arbitration is “ hearing and determining a dispute between the parties by a person or persons chosen by the parties ”..

TYPES OF ARBITRATION :-. 1) Domestic Arbitration Domestic arbitration is that type of arbitration, which happens in India, wherein both parties must be Indians and the conflict has to be decided in accordance with the substantive law of India. The term ‘domestic arbitration’ has not been defined in the Arbitration and Conciliation Act of 1996. However, when reading Section 2 (2) (7) of the Act 1996 together, it is implied that ‘domestic arbitration’ means an arbitration in which the arbitral proceedings must necessarily be held in India, and according to Indian substantive and procedural law, and the cause of action for the dispute has completely arisen in India, or in the event that the parties are subject to Indian jurisdiction..

TYPES OF ARBITRATION :-. 2) International Arbitration When arbitration happens within India or outside India containing elements which are foreign in origin in relation to the parties or the subject of the dispute, it is called as International Arbitration. The law applicable can be Indian or foreign depending upon the facts and circumstances of the case and the contract in this regard between the respective parties. To fulfill the definition of International Arbitration it is sufficient if any one of the parties to the dispute is domiciled outside India or if the subject matter of dispute is abroad..

TYPES OF ARBITRATION:-. 3) International Commercial Arbitration ‘ International Commercial Arbitration’ is defined as ‘the substitution of many burning questions for a smouldering one ’.Nani Palkhiwala has stated that ‘International Commercial Arbitration’ ‘is a 1987 Honda car, which will take you to the same destination with far greater speed, higher efficiency and dramatically less fuel consumption’ International Arbitration is considered to be ‘commercial’ if it related to disputes arising out of a legal relationships irrespective of their contractual nature and are considered as commercial under the law in force in India and where at least one of the parties is- (1) A national of, or habitual resident in, any country other than India or (2) a body corporate which has to be incorporated in any foreign country, or (3) An association or a body of individuals whose core management and control in a country which is not India or (4) the government of a country other an India, In International Commercial Arbitration the arbitral tribunal is bound to decide the conflict according to the rules of law chosen by the parties as applicable to the substance of the dispute; any designation by the parties of the law or legal system of a given country can be interpreted, unless it has been expressed otherwise, one which directly refers to the substantive law of that country and does not refer to its conflict of laws rules..

Types of arbitrations that are primarily recognized in India on the basis of procedure and rules:.

Types of arbitrations that are primarily recognized in India on the basis of procedure and rules:.

Types of arbitrations that are primarily recognized in India on the basis of procedure and rules:.

THANK YOU. SUBMITTED BY: DEEPTI ASHISH JADHAV. CLASS:- TYLLB SEM:- VI ROLL NO:-11..