Disadvantages Of Arbitration

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The concept of parties settling their dispute in a binding manner by reference to a person or persons of their choice or private tribunals was well know .to ancient and medieval India. Appeals were also often provided against the decisions of such persons or tribunals to the courts of judge. appointed by the king and ultimately to the king himself. However, the law or arbitration as is known to modern India owes its elaboration, in phases, to the British rule of India. There were series of Regulations framed .by the East India Company by virtue of the power vested in it by the British government, starting with the Bengal Regulations of 1772, the court in different parts of British India. were empowered to refer, either with the consent of …show more content…
Chief Ministers and Chief Justices was held under the chairmanship of the Prime Minister of India to evolve a strategy or dealing with the congestion of cases in courts and other forms. The .meeting adopted a resolution that sets forth ways and means to deal with the arrears problem .as expeditiously as possible. While dealing with the arrears of cases in courts and tribunals, the resolution .also recommended that a number of disputes lent themselves to resolution by alternative means. such as arbitration mediations and negotiation. The resolution further emphasized the desirability of disputants taking advantage of alternative disputes resolution money and avoided the stress/ of a conventional trail. ADR is seen as part of a system designed to meet the needs of consumers of justices, especially in the context of recent reforms in the economic sector. Simultaneous with has been the growing demand of both the business community/ within the country and investors from abroad for reforms in the arbitration law of India. The. Government of India also felt that its economic reforms might remain incomplete it corresponding changes were not. brought in the law relating to settlement of disputes, especially through .arbitration and …show more content…
The Commission's object is promotion of the progressive harmonization and .unification of the law of international trade. The Commission consists of 36 states representing various geographic regions and the Principals economics and legal systems of the worlds. Even since its inception, India has been a member of this Commission. Largely at the instance of the .Asian-African Legal Consultative Committee and on the basis of extensive deliberation held in its Working Group on International Contract experts, the commission adopted the. Model Law on 21 June, 1985. The Model Law is not a treaty and does not therefore require the state adopting it to enact its national law in terms
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