What is the process arbitration?
Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
What is online arbitration and what is the procedure of conducting online arbitration?
In online arbitration, an award is rendered online. An e-arbitral award should be binding unless otherwise agreed by the parties before the commencement of the arbitration. in case of non-binding arbitration, the parties retain the right to submit the dispute to a court or to a binding arbitration.
What are the principles of arbitration?
The object of arbitration is to obtain a fair resolution of disputes by an impartial third party without unnecessary expense or delay. Parties should be free to agree how their disputes are resolved, subject only to such safeguards as are necessary in the public interest. Courts should not interfere.
Which is the following stages of arbitration process step by step?
Step by step guide to arbitration
- Step 1 Show details. Claimant. Appoints its arbitrator, pays the registration fee and files its request for arbitration.
- Step 2 Show details. Claimant.
- Step 3 Show details. SCC.
- Step 4 Show details. Claimant.
- Step 5 Show details. The Arbitral Tribunal.
- Step 6 Show details. The Arbitral Tribunal.
How long does arbitration process take?
The good news is that arbitration takes less time than a traditional judge or jury trial. A typical arbitration timeline can take around three months to reach a final decision.
How are disputes settled?
Dispute resolution processes fall into two major types: Adjudicative processes, such as litigation or arbitration, in which a judge, jury or arbitrator determines the outcome. Consensual processes, such as collaborative law, mediation, conciliation, or negotiation, in which the parties attempt to reach agreement.
Can arbitration be done online?
The conduct of the online arbitration proceeding must be fair to both parties, so the length of arguments and time allocation to each party has to be agreed, and arbitral tribunal should ensure that parties stick to them and do not speak over each other.
Can arbitration conducted online?
All hearings to be conducted online through a secured network platform; Awards can be passed by the arbitrator online, which for practical purposes, for challenge and execution, can be considered as award passed in terms of arbitration between the parties qua seat and venue.
What is the next step after arbitration?
Sometime after arbitration, the arbitrator will decide who won. This decision must be in writing. The decision is final and binding so the parties are expected to obey the arbitrator’s decision. If they don’t, they can be sued.