Arbitration and Conciliation

Abstract

Alternate Dispute Resolution is a mechanism which includes out of Court settlement provisions like arbitration, mediation, conciliation and negotiation. It is a way of settlement through third person with or without Court interference. It follows the Principle of Natural Justice, equity and good conscience. It promotes speedy disposal of cases. The root of this mechanism lies in specific provisions of Code of Civil Procedure namely Section 89, which provides settlement of dispute by alternate mechanism. There are various advantages to this method such as less involvement of cost, less time consuming, no stringent provisions of Law and so on. This study broadly covers the concept of Arbitration and Conciliation Act. The study deals with scope, object and applicability along with other provisions of Arbitration and Conciliation Act. It includes kinds of arbitration, advantages and disadvantages, Arbitral Tribunal, Appointment of Arbitrator, their termination, basis of arbitration, Tribunal, its jurisdiction and process. It also covers the concept of Conciliation as mentioned in the act, such as appointment of conciliator, their role and its procedure. The act broadly speaks about two foreign conventions namely Geneva Convention and New York convention. This study also covers the rules which are laid down in the schedule of the Act, Fees prescribed under schedule of this Act, the grounds on which award can be challenged or arbitrator’s partiality can be questioned. The study also covers Arbitral Council of India and its role in Indian Judiciary. This study examines effectiveness of these mechanisms in promoting fair and impartial decision making. This study discusses the key skills and qualifications required for the position of arbitrator and conciliator. This study provides valuable insights into the field of alternate dispute resolution mechanism. It highlights the role of this mechanism in resolving disputes with the help of the provisions of Arbitration and Conciliation Act.