MYTHS
& FACTS ABOUT ARBITRATION
“Pictures get blurred when we view from far they get
clear only whn we go near.”
There are total 1075 {approx} acts in India out of
these around 800 acts cases can be solved here, leaving cases of criminal acts
and defence. Apart from this the parties approaching the tribunal even have the
right to choose their arbitrator for case, the dates of proceeding and get
their dispute resolved within 3 months. Even the party themselves can represent
their case. The parties can maintain privacy of their cases.
Myths
About Arbitration
Arbitration is assumed to be expensive law, with
less relevance, as the parties approaching have freedom and meant only for
certain class people.
Clearing
The Myths
The reality is picture are blurred , knowledge makes
difference, people are not aware about the act
- It’s not expensive law, actually its less expensive than other proceedings in terms of cost, and time involved.
- Its not meant only for particular class people any one can use the tribunals to get their disputes resolved.
- It is not less effective, the judgement passed by the tribunal have same decree as those passed by other courts.
- The award are passed by former judges, so one cannot doubt on effectiveness of the judgement given.
- Disputes are resolved in less time as the act narrow down the scope for appealing which saves time and parties don’t have to wait for years for getting their dispute resolved.
Its act in which proceedings are flexible as per parties wish but have same strength, we can only take benefits from the act only when we have knowledge about it. Clear your doubts, take a step,
save your time and enjoy the freedom of getting your dispute resolved in less time.
To know more contact Kanooni Suchna Kendra you can
even mails us your queries.
