Who is an arbitrator? Arbitrator meaning
The arbitrator is an individual appointed with the consent of the parties or as per the provisions of the Arbitration & Conciliation Act, 1996 to adjudicate the dispute between the parties.
Penal of the arbitrator(s) may be more than one, depending upon the agreement between the parties, however, as per law the number(s) has to be odd.
The arbitrator carries the same power as that of the court.
The award passed by the arbitrator is executable in the same manner as a decree passed by the court.
Sometimes the court may also on its own appoint an arbitrator to adjudicate the dispute between the parties as per the provisions of section 89 of the Code of Civil Procedure, 1908
In the case of a commercial transaction where the supplier or service provider is a Micro, Small or Medium enterprise, the matter is referred to arbitration.