Goseeko blog

What is Arbitration

by Kusum Joshi

Arbitration , one of a variety of methods collectively referred to as Alternative Dispute Resolution or ADR. This is the traditional way to resolve a legal dispute. Arbitration and similar alternatives has primarily designed to provide streamlined, cost-conscious options for addressing legal issues. Below, we’ll look at how arbitration, if optional, works and how it differs from going to court.

When can I arbitrate?

Anyone can agree to arbitrate disagreements or legal issues, but the keyword is “agree.” It does not deprive the other party of the right to court just because one of the parties to the dispute wants to go into Arbitration. It will only occur if the two parties agree to it before or after a legal dispute arises. For this reason, the agreement to arbitrate a dispute is usually somewhere in the written agreement between the parties.

Still, this does not mean that arbitration agreements are rare. It’s far from that. Many may not be aware or aware of it, but consumers are affected by it (or other methods of alternative dispute resolution) in the course of daily shopping, travel, and numerous daily transactions. I agree to resolve potential legal issues. For example, if an online shopper reads a fine print disclaimer or notice on his favourite travel website, it may contain an agreement to resolve the dispute through arbitration or a similar form of ADR.

What is the Arbitration Law?

Dispute resolution process between two agreed parties that appoints an arbitrator to provide a binding solution to a dispute call arbitration law. It is a legal mechanism that mutually facilitates the resolution of a dispute between two or more parties by appointing a third party to make a decision binding the party referencing the dispute.

Features of Arbitration agreement:

1.  Written contract, stating that if a dispute arises, it resolves by arbitration rather than sent to court .

2.    In this process, parties should be heard judicially who has been involved in the dispute.

3.      Each dispute party has the right to appoint an arbitrator.

4.      In situations where the arbitrators disagree with each other, the disagreement have been referred to a third arbitrator.

5.      Therefore, if there are three arbitrators and two of the three arbitrators agree to a particular decision (award), the decision (award) must be binding.

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