Scope of Arbitration in the Legal Field

                                                                         SCOPE OF ARBITRATION IN LEGAL FIELD

                                                                                            BY- Shivalik pal

“Arbitration allows parties to choose their own tribunal, their own procedures, and their own substantive law, thereby enabling them to have a greater say in the resolution of their disputes.” –  Michael Hwang 

Alternate dispute resolution is the process of resolving conflicts outside of a court or without the intervention of a court. Alternative conflict resolution uses a number of different methods.

·        Arbitration

·        Mediation

·        Conciliation

Arbitration is an alternate conflict resolution method that typically develops outside of the courtroom. As part of this agreement, the parties to the dispute select the arbitrator or arbitrators of their choosing, as well as the venue and date of the arbitration, at their discretion and convenience.

The law pertaining to arbitration is contained in the Arbitration and Conciliation Act, 1996. On January 25th, 1996, the law went into effect. This law makes provisions for both domestic and international business arbitration as well as the enforcement of arbitral judgements from other countries. It is based on the model of law established by the United Nations to be equivalent to the law adopted by the United Nations Commission on International Trade Law.

If two parties cannot agree, arbitration is employed to resolve the conflict. An arbitration clause must be included in the parties' contract in order to start the arbitration procedure.To have the matter arbitrated, an arbitration clause must be included in a contract or other agreement that both parties have signed. Arbitration terms may be included in either a separate agreement or a contract submitted to arbitration. The party shall specify the place of the proceedings pursuant to the arbitration provision.

It is governed under Section 23 of the Act. Following both parties' acceptance of the arbitration process, an arbiter is selected. The claimant draughts a statement of claims that contains all the information and proof they think are necessary for the circumstance.The parties' disagreements are discussed before the arbitrators, who also go over the written processes. After determining

whether or not the claimants' evidence is credible, the tribunals decide whether to move forward with the case. Section 24 is applicable here.

Following the hearing and investigation, the arbitrator renders a decision. This is a requirement that must be met by both parties. Although they are not permitted to do so before the arbitral tribunals, the parties may challenge the arbitral ruling in court. In Section 31, this provision is found.The arbitrator's decision, once made, must be acted upon. This clause appears in Sections 35 and 36.

At first glance, litigation and arbitration are both different and superior dispute resolution methods in their respective fields. Arbitration is not an option, nevertheless, when talking about criminal matters. The only option for criminal cases is litigation. Additionally, parties have both options in civil actions. Arbitration is typically a better option in this situation, depending on the urgency, contractual clauses, and jurisdiction. Through arbitration, disputes can be settled quickly and at the parties' convenience in terms of the hearing date, location, arbitrator choice, hearing time, and, in addition, the arbitrators' negotiated fees.

Arbitration has grown significantly in India. Civilians now include arbitration clauses in their contracts and agreements to settle disputes outside of court. Since many people lack the resources to seek legal action, it is essential. Right away, the issues are settled impartially and fairly.

Arbitration's flexibility is one of its main advantages. The venue, timing, and procedural guidelines may all be agreed upon by the parties. This can be particularly useful for companies who want to avoid the expenses and delays associated with a court dispute. Since there are typically fewer formalities and less discovery, arbitration can also be less expensive than litigation. Additionally, the parties have the option of selecting an arbitrator with specialised knowledge of the dispute's subject matter, which may lead to a more well-informed and specialised conclusion.

In general, arbitration might be a viable choice for companies and people looking for a more discreet and effective conflict resolution process. When there is a modest amount of money at issue or if the parties wish to maintain their ongoing relationship, it might be extremely effective. Before choosing to follow this course of action, it is crucial to carefully weigh the