Arbitration is also known as Alternate Dispute Redressal which is a method of dispute settlement using private entities known as “ Arbitral tribunals”
Arbitral tribunals usually consist of either one or three arbitrators. The primary role of an arbitral tribunal is to apply the law and to make a dispute decision by administering the so called “arbitral award”.
In principle, arbitral awards are final and binding. They can only be challenged in a State Board under exceptional circumstances. For eg. it applies to parties if they are not agreeing with the arbitration award or if they are not following the arbitral award passed by the arbitrator.
The firm is a leading law firm in commercial litigation practice with a knowledge base in all forms of dispute resolution. Endeavor is involved to make the dispute resolution practice efficient and cost effective for our clients. The team at BIAT Legal LLP helps their clients in advising and representing a diverse range of international and domestic entities engaged in manufacturing, telecom, aviation, energy, print media, hospitality, natural resources, financial services, insurance, health, entertainment, information technology, intellectual property, employment, retail and trade, property and construction activity.
The firm has an extensive record of handling complex litigation and has also delivered several landmark judgements. The firm has in-depth understanding and experience in the field of Arbitration/ Alternative Dispute Resolution mechanism which can be a valuable alternative to ligation.
Following are the benefits for choosing Arbitration Proceedings
- Arbitration Proceedings are private as it includes ral proceedings, these are not open to the public. Parties and arbitrators are often bound by the strict rules of confidentiality. Thus, business secrets and sensitive information can be protected from public, media and/ or competitors.
- Parties are free to choose their arbitrators of their choice as long as they are of an impartial and independent nature. Arbitrators can be selected from different nationalities and professional fields.
- Arbitral awards are enforceable.
- By choosing arbitration proceedings, it may save time and costs.