Tuesday, 31 May 2016

What is arbitration and What factors should be considered before conducting the process of arbitration?

Ans:Arbitration is perhaps the most popular and widely known dispute resolution process. Like litigation, arbitration utilizes an adversarial approach that requires a neutral party to render a decision.
Historically, arbitration has been used most widely in commercial disputes as a private alternative to litigation. Arbitration developed as a binding, adjudicative process. While these features closely parallel those of traditional court proceedings, there are important distinctions between the two processes which will be discussed further in this document.
factors should be considered before conducting the process of arbitration
When should a dispute be arbitrated? Enforceability and arbitrability.
Enforceability: Whether the contract to arbitrate is valid and can be enforced against the party seeking to avoid arbitration.
Arbitrability: Whether a particular dispute is subject to an agreement to arbitrate.

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