Arbitration is undoubtedly one of the most popular and effective means of the Alternative Dispute Resolution, in jurisdictions domestic and international, worldwide. Today, this arbitration has emerged out as an efficient and excellent tool for resolving diverse commercial disputes, mercantile transactions and contracts, and consumer and employment matters, outside the formal judicial system. Ours this enlightening article offers extensive information about this arbitration, and ours arbitration services in domestic and international forums in all across the world. But, before that, "what is arbitration?", should be clarified first explicitly, giving the precise definition of arbitration.
Arbitration is the legally recognized dispute resolving technique or method, apart from the normal judicial process, in which a third unbiased party (arbitrator) reviews the evidences forwarded by both the disputing parties, and makes judicious and equitable decisions agreeable to both the parties. The arbitrator or arbitrators are chosen unanimously by the disputing parties, with the agreement that the arbitration award given by him/them would be acceptable to both and final. Practicality, reliability, confidentiality, legal validity, economy, flexibility, and promptitude associated with arbitration, make it desirable, preferred, and popular over the tedious and protracted process and litigation involved in the formal judicial system.
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International Arbitration Services
Most of the countries have their own respective laws and rules for arbitration within their individual country. In India, such intelligently well-crafted arbitration law is the Arbitration and Conciliation Act, 1996, which is applicable to both domestic and international arbitrations in India. Besides these domestic arbitration laws in individual countries, there are some broader arbitration laws and regulations for dispute resolution at the international arena. Ours vastly experienced, mellow, and veteran arbitrators and adjudicators have been adjudicating expertly and impeccably disputes in almost all fields of the commercial and corporate sectors, both at domestic and international levels worldwide. Today, the most prominent, popular, and magnificent arbitration laws for resolving international disputes in the commercial and corporate sectors in jurisdictions worldwide, are - the New York Convention, 1958; the Washington Convention, 1965; the Geneva Convention, 1927; the European Convention, 1961; the UNCITRAL Arbitration Rules; the Geneva Protocol, 1923; and many others.