Hastings Chambers
3rd Floor, Room #3A, 7C, Kiran Shankar Roy Road,
Kolkata - 700 001, West Bengal, India.

 

Mobile No. : 98311 03325 / 98304 21737

 

Phone No. : +91-33-2242 8829 / 30 / 2248 4094

 

E-mail : utpalmajumdaradvocates@gmail.com

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ARBITRATION

 

Arbitration is a non-judicial process for the settlement of disputes where an independent third party - an arbitrator - makes a decision that is binding.

The role of an arbitrator is similar to that of a judge, though the procedures can be less formal and an arbitrator is usually an expert in their own right.

The are many advantages to arbitration:
• the process can be tailored to suit parties’ particular needs
• arbitrators can be chosen for their expertise
• it is confidential
• it can be speedier and cheaper than court
• there are limited grounds of appeal
• arbitral awards are binding and enforceable through the courts.

 

Arbitration is now the first-choice method of binding dispute resolution in the widest range of international commercial contracts. It is a private process requiring the agreement of the parties, which is usually given by way of an arbitration clause in the contract. If there is no contractual provision to arbitrate, a separate arbitration agreement may be entered into once a dispute has arisen.

 


Arbitration offers parties the freedom to choose a method of dispute resolution tailored to their precise needs. That freedom extends to the choice of applicable law, the venue, the language, and the choice of arbitration procedures, whether under institutional rules, stand-alone procedures, like the UNCITRAL rules, or entirely ad hoc.

Parties may also choose their arbitrators, thus ensuring the constitution of a tribunal with precisely the right qualifications and experience.

It is this freedom of choice that reinforces the key elements of international arbitration: enforceability, procedural flexibility, party-control, neutrality, privacy and confidentiality, cost-effectiveness and speed.

 
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Location
Hastings Chambers
3rd Floor, Room #3A, 7C, Kiran Shankar Roy Road, Kolkata - 700 001, West Bengal, India.
Phone : +91-33-2242 8829 / 30 / 2248 4094
Email : utpalmajumdaradvocates@gmail.com
Website : www.advocatesutpalmajumdar.com
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