Q: What is Contractual Arbitration ?

Ans: Contractual Arbitration is when parties to a contract agree to resolve future disputes via binding arbitration rather than in court or otherwise.
 
Contractual Arbitration can be either Ad-Hoc Arbitration and/or Institutional Arbitration.
 
A contract is an official document in which several terms are agreed upon by the parties. Sometimes, parties to a contract or who are in contract would include an arbitration clause in the contract which clarifies referring any dispute to arbitration before moving  towards the courts. 

Comments

Post a Comment

Popular posts from this blog

Q: What is Foreign Arbitration ?

Ans: Foreign awards are granted in foreign countries for any dispute referred to arbitration in international cases and are enforceable in India under the Act. It is divided into two chapters under the Act: The New York Convention The Geneva Convention    When both of the parties are foreigners they have mutually agreed to follow rules of a foreign land through arbitration while dealing with legal disputes, it is called foreign arbitration. In such cases, regardless of whether the arbitration takes place in India or or in the other country, foreign arbitration laws are followed. In such arbitration, a "foreign award" is sought to be enforced. For India, when an arbitration proceeding is conducted in a place outside India, it is called foreign arbitration.  Section 44: Foreign award for geneva convention. Foreign award is given in international commercial arbitration.  Section 2(1)(f) and Artilcle 51(d): International Arbitration. 
Read more

Q: What do we mean by Arbitrium est judicium boni viri, secundum ?

Ans: The meaning of Arbitrium est judicium boni viri secundum is that an award is the judgement of a good man ,according to justice.  Or  In accordance with justice, an award is the judgement of good man. It is clear that award is nothing but judgement of good man. AEJBVS:  1. Aribitrium est judicium 2. Boni  3. Viri Secundum Arbitration east judiciary  Boney Kapoor  War Secundrabad.  Points to remember:  1. The judgement of arbitrator is an award. An award is the judgement of good man , according to justice.  Arbitrium est judicium  Boni viri secundum (Boni veer secundum) There are two types of award domestic award and foreign award. Domestic award is mentioned under part 1(section 2 to section 43) of Arbitration and Conciliation Act,  1996 whereas Enforcement of foreign award is mentioned under part 2( Section 44 to section 60) of arbitration and conciliation act,  1996.  Part 3( section 61 to section 81 ) of arbitration...
Read more

Q: Can a party to an arbitration agreement appoint a sole arbitrator on his own and impose it on the other party?

Ans: While it is possible for a party to a dispute to appoint a sole arbitrator, there must be an agreement between the parties to do so and the procedure prescribed by it must be followed. Thus, a party cannot appoint a sole arbitrator and impose the appointment on the other party if the agreed procedure is not followed.  Each party shall appoint one arbitrator . The two arbitrators thus appointed shall choose the third arbitrator who will act as the presiding arbitrator. Thus, there must be minimum 3 arbitrators in arbitration tribunal. 
Read more