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The Arbitration and Conciliation Act, 1996, is a comprehensive Indian law governing arbitration and conciliation proceedings, aiming to provide an efficient and cost-effective mechanism for resolving disputes. It consolidates and amends previous laws on domestic and international commercial arbitration, as well as the enforcement of foreign arbitral awards. The Act is based on the UNCITRAL Model Law and Rules, promoting international uniformity in arbitration procedures.
The Act covers both domestic and international commercial arbitration, providing a framework for resolving disputes within India and across borders.
It also defines the law relating to conciliation, offering a process for amicable dispute resolution through a neutral third party.
The Act provides for the enforcement of both domestic and foreign arbitral awards as if they were court decrees.
It aims to minimize court involvement in arbitration proceedings, encouraging parties to resolve disputes through arbitration without excessive legal intervention.
The Act has been amended over the years (2015, 2019, and 2021) to further refine its provisions and align it with international best practices.
Important sections include those dealing with arbitration agreements, interim measures, appointment of arbitrators, conduct of arbitral proceedings, and enforcement of awards.
To provide a streamlined and time-efficient mechanism for resolving disputes, particularly in commercial matters.
Binding | Hardbound |
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Edition | Latest 2025 Edition |
Language | English |
Publisher | Whitesmann Publishing |
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