Arbitration is a mechanism or a method of resolution of disputes that unlike court takes place in private, pursuant to agreement between the parties. The parties agree to be bound by the decision rendered by a chosen arbitrator after giving hearing. The endeavour of the court should be to honour and support the award as far as possible[Markfed Vanaspati & Allied vs Union Of India on 14 September, 2007]
Russell on Arbitration 19th Edition at Pages 110-111 described the entire genesis of arbitration as under:- An arbitrator is neither more or less than a private judge of a private court (called an arbitral tribunal) who gives a private judgment (called an award). He is a judge in that a dispute is submitted to him; he is not a mere investigator but a person before whom material is placed by the parties, being either or both of evidence and submissions; he gives a decision in accordance with his duty to hold the scales fairly between the disputants in accordance with some recognized system of law and rules of natural justice. He is private in so far as (1) he is chosen and paid by the disputants (2) he does not sit in public (3) he acts in accordance with privately chosen procedure so far as that is not repugnant to public policy (4) so far as the law allows he is set up to the exclusion of the State Courts (5) his authority and powers are only whatsoever he is given by the disputants agreement (6) the effectiveness of his powers derives wholly from the private law of contract and accordingly the nature and exercise of those powers must not be contrary to the proper law of the contract or the public policy of England bearing in mind that the paramount public policy is that freedom of contract is not lightly to be inferred with.Whatever has been mentioned by Russell in this paragraph is equally true for Indian Arbitrators
The Arbitration and Conciliation Act, 1996 which has repealed the Arbitration Act of 1940 and which seeks to achieve the twin objectives of obliging the Arbitral Tribunal to give reasons for its arbitral award and reducing the supervisory role of Courts in arbitration proceedings. Section 31(3) of the said Act obliges the arbitral tribunal to state the reasons upon which it is based unless the parties have agreed that no reasons be given or the arbitral award is based on consent of the parties. There is, therefore, a paradigm shift in the legal position under the new Act which prescribes a uniform requirement for the arbitrators to give reasons except in the two situations mentioned above. The change in the legal approach towards arbitration as an Alternative Dispute Resolution Mechanism is perceptible both in regard to the requirement of giving reasons and the scope of interference by the Court with arbitral awards. While in regard to requirement of giving reasons the law has brought in dimensions not found under the old Act, the scope of interference appears to be shrinking in its amplitude, no matter judicial pronouncements at time appear to be heading towards a more expansive approach, that may appear to some to be opening up areas for judicial review on newer grounds falling under the caption “Public Policy” appearing in Section 34 of the Act. [M/S Anand Brothers P.Ltd.Tr.M.D vs Union Of India & Ors on 4 September, 2014]
This Paper Covers following Topics :
Indian Arbitration
The Statute
FICCI Tribunal of Arbitration
Services in Arbitrations in India
Notifications and Circulars
Press Releases
Schemes, Reports & Forms
List of Institutions Providing
Supreme Court Judgments
International Arbitration
UNCITRAL Model Laws
International Convention and Treaties
International Statutes
International Arbitral Institutions-Rules & Procedures
Rules and Procedures of Other Institutions
Disputes Settled by Permanent Court of Arbitration
Institutional and Specialized Arbitration
International Commercial Arbitration
Sports Arbitration
- International Cases
- Model Arbitration Agreement
- Model Arbitration Award (Domestic)
Arbitration and Conciliation Act, 1996
PART I
Arbitration
1. General Provisions
2. Arbitration Agreement
3. Composition of Arbitral Tribunal [Ss. 10–11]
4. Jurisdiction of Arbitral Tribunals
5. Conduct of Arbitral Proceedings
6. Making of Arbitral Award and Termination of Proceedings
7. Recourse Against Arbitral Award
8. Finality and Enforcement of Arbitral Awards
9. Appeals
10. Miscellaneous
PART II
Enforcement of Certain Foreign Awards
1. New York Convention Awards
2. Geneva Convention Awards
PART III
Conciliation
Conciliation
PART IV
Supplementary Provisions
Supplementary Provisions
First Schedule
Second Schedule
Third Schedule
PART V
Alternative Disputes Redressal
