How to tackle dispute resolution through Arbitration

 

 

Arbitration is a process of settling disputes out of court among the disputing parties.It is a preferred mode of dispute settlement for private parties involved in a trade.In India, we have Arbitration and Conciliation Act, 1996, which governs the arbitration proceedings for dispute settlement.The arbitration procedure is less formal and less time-consuming.Arbitration is mainly of two types- Ad hoc arbitration and Institutional Arbitration.