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Owing to India’s huge and highly competitive business industry, business disputes are on the rise. While the resolution of disputes through the process of the court can be tedious and lengthy, Arbitration provides for a comparatively easier and economical solution. While arbitration enables businesses to settle their disputes expeditiously, at the same time, it is important to have the best arbitration lawyers onboard especially in cases where the stakes are high. Unfortunately, a lost case in arbitration can bring irreversible losses. A seasoned arbitration lawyer in Chandigarh can rightly guide through the process of arbitration and can help make a substantial difference in the result of the case.
Arbitration is a process of dispute resolution between the parties and an effective alternative to litigation. It is governed by “The Arbitration and Conciliation Act, 1996”. The process of arbitration can commence only if there exists a valid Arbitration Agreement between the parties prior to the emergence of the dispute. Such an agreement must be in writing. The contract, concerning which the dispute arises, must either contain an arbitration clause or must refer to a separate document signed by the parties containing the arbitration agreement. The existence of an arbitration agreement can also be inferred by written correspondence such as letters, telex, telegrams, emails etc. which provide a clear record of such agreement.
While describing arbitration in legal terms, it covers arbitration, negotiation, conciliation, and mediation. Among all these ADR (Alternate Dispute Resolution) mechanisms, arbitration is a less formal process in comparison to litigation in courts. And whenever a point of the dispute arises between two organizations, arbitration is the process being followed by both of them by binding to the arbitration decision of the mutually picked arbitrator, arbiter, or arbitral tribunal. Arbitration is being performed by an impartial adjudicator/arbitrator. Then the arbitrator is going to hear the obligations and evidence to reach a decision which entitles the justifiable arbitral award to either of the party.
While discussing types of arbitration in India, one is institutional arbitration and the other one is Ad hoc arbitration. In institutional arbitration, there are some recognized and formal institutions where they have their own rules and framework to be followed for the arbitration process. On the other hand, in Ad hoc arbitration, both parties are under discretion to pick the arbitrators, procedures, rules, and administrative support needed. So there is no formal or recognized institution to hear the conflict. The process will become much transparent and easy with the help of an expert arbitration lawyer. The ADR lawyers in Chandigarh at B&B Associates LLP can be contacted for the following arbitration proceedings.
The opportunities in the business industry in India has improved to a greater extent. This commendable improvement is visible from the ranking of India in terms of ease of doing business. The country has moved from the position 131 to 100 as per World Bank ratings. Consequently, more and more people are falling into business agreements or contracts to explore the opportunities and growth offered by the business industry. But the question arises, who is going to settle the disputes arising in between these business agreements.
At the time of two parties entering into a contract, a separate clause is there in the contract for dispute resolution mechanism. It describes that if any kind of conflict arises between the two parties, a mutually selected arbitrator is going to address that conflict. In most of the cases, the name of the arbitrator is already mentioned in the contract.
Over 31 million cases are there still waiting to be addressed in the Indian courts. Unfortunately, that is the reason behind the public restricting themselves from entering into any legal proceeding. But when it’s a commercial matter, there is a relieving alternative one can opt for. Arbitration can just avoid the exhaustive and enduring procedures of the court. As in arbitration, instead of litigating the whole dispute in court, the parties can settle their matter outside the court boundaries under legal guidelines without much time consumption.
Among top trusted arbitration law firms in Chandigarh, B&B Associates LLP with its expert arbitration and mediation lawyers, is diligently serving national as well as international clients to resolve all kinds of arbitral disputes through different ADR mechanisms i.e. Negotiation, Mediation, Conciliation, and Arbitration. Right from the appointment or challenging the arbitration notice till entitlement of arbitration award, the client gets complete support. In addition, some other features of our law firm which makes our arbitration advocates stand out among the crowd are
Chandigarh is a commercial hub and is continually inviting a lot of business proposals to grow. Due to ease of doing business, being rich in resources, a beautiful and safe city to live, and better work opportunities, the union territory has become an ultimate dream location for many entrepreneurs. Even the government is also doing its best to encourage development. During all this commercial growth, conflict is a thing that one cannot avoid completely. In those conditions, one will understand the significance of consulting the best arbitration lawyers in Chandigarh to resolve these conflicts with maximum expertise. Our arbitration expert advocates in Chandigarh are exercising their competencies in the following areas.
In addition to these issues, our tech-savvy and vigilant team of arbitration attorneys in Chandigarh is delivering in various other national/international, small/medium/major, governmental/non-governmental, technical/non-technical, commercial/civil/family arbitration matters.
**We deject un-ethical and immoral practices, and reserve our rights of extending legal services only to a select clientele which exhibits civility, faith in law, sound moral footing, and good conscience. Our legal counsels defend the ones who have falsely been implicated, and prosecute for those who have actually been victimized – in either case, our counsels reserve their right of exercising discretion in accepting or rejecting a brief/ lawsuit
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