How does arbitration proceeds?

Author- admin
Date:May 27, 2022

How does arbitration proceeds?

Arbitration is an agreement based dispute resolution mechanism. So proceeds for arbitration followings are the pre-requisites:

1. Existence of an arbitration agreement within the scheme of section 7 of Arbitration and Conciliation Act, 1996; and

2. Existence of a dispute.

As per the provisions Arbitration and Conciliation Act, 1996, normally arbitration proceeds as per the followings :

1. Invocation of arbitration agreement & arbitrator appointment: section 21, 11

2. Filing of statement of claim

3. Filing of statement of defence or counterclaim

4. Evidence

5. Payment of stamp duty & Passing of an award

6. Execution of award