The dictionary meaning of ‘arbitration’ is the process of solving an argument between people by helping them to agree to an acceptable solution.

Arbitration is a part of the Alternative Dispute Resolution (ADR) mechanism that benefits parties who want to avoid the normal lengthy recourse to the local courts for settlement of disputes. It is a legal technique for the resolution of dispute outside the courts, wherein the parties to a dispute refer it to one or more persons namely arbitrator by whose decision they agree to be bound. An arbitration hearing is similar to a small claims trial. The participants present evidence and make arguments supporting their positions. After the hearing, the arbitrator decides in favor of one side or the other. An arbitrator is more like a judge, who hears the evidence and makes a ruling. In practical terms, arbitration is similar to a lawsuit but may be preferable for all parties due to the lower costs and time commitments involved.

Advancement, liberalization, and globalization of international business relations necessitated the invention of a flexible, reasonable, favorable and time-saving method of resolution of disputes without making the parties go through the rigorous, time consuming and resource exhausting procedure of the traditional justice delivery system
The Indian law with respect to the arbitration is largely based on the English Common Law. The Indian arbitration is governed and regulated by the Arbitration and Conciliation Act 1996, which derives its basis from the 1985 UNCITRAL Model on International Commercial Arbitration and the UNCITRAL Arbitration Rules of 1976.
An example of an arbitration would be that when two people who are divorcing cannot agree on terms and allow a third party to come in to help them negotiate. The act of arbitrating; specifies, the settlement of a dispute by a person or persons chosen to hear both sides and come to a decision. Although arbitration is a private judicial hearing, it is still a judicial hearing and its outcome binds the parties. Arbitration often is less costly than court litigation, primarily due to the compressed schedule for the completion of discovery and trial. The judge is assigned by the court without input from the parties. The soundness of any adjudication is largely dependent upon the quality of the arbitrator or trial judge. Thus, arbitration affords the parties the ability to select the decider, whereas court litigation does not. Arbitration typically provides a speedier resolution than proceeding in court. Arbitrators are selected from a pool of professionals, typically with experience in the construction industry and, therefore, may provide a greater level of expertise than a judge. an arbitrator has considerable flexibility to consider any evidence he/she deems relevant and may issue an award based upon perceptions of fairness or equity and not necessarily on the evidence or rules of law. An arbitration award is final and binding and, in many jurisdictions, there is no right of appeal, even if the arbitrator makes a mistake of fact or law except under very limited circumstances.

Aishwarya Says:

I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.

If you are interested in participating in the same, do let me know.

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We also have a Facebook Group Restarter Moms for Mothers or Women who would like to rejoin their careers post a career break or women who are enterpreneurs.

We are also running a series Inspirational Women from January 2021 to March 31,2021, featuring around 1000 stories about Indian Women, who changed the world. #choosetochallenge