Areness is a reputable name in arbitration and dispute resolution and has assisted multiple clients in domestic and international commercial spaces. We are committed to providing personalized solutions that address the complex needs of our clients, including pre-arbitration strategy, settlement discussions, representation during arbitral proceedings, and recognition and enforcement of awards or challenges. With us, you can be confident that you’ll receive the best possible outcome for your unique situation. Our team of lawyers holds an exceptional track record in delivering successful results in arbitration law.
Arbitration is a nonjudicial legal technique for resolving disputes outside the court by an impartial arbitrator appointed mutually by the two commercial parties. Often considered the first choice, especially by small business clients for its faster resolutions, binding decisions, and cost-effectiveness. The arbitration law in India is governed under the Arbitration and Conciliation Act 1996, which states, “Arbitration means any arbitration whether or not administered by the permanent arbitral institution.”
In the past, commercial arbitration was utilized to settle disputes between medieval merchants in fairs and marketplaces across England, Europe, and the Mediterranean and Baltic Sea trade. It became more prevalent when courts were authorized to uphold the parties’ arbitration agreements. The accelerated demand for arbitration consultants in business communities and legal firms has led to increased usefulness and significance of arbitration across the world.
Having worked with prominent leaders of the country, we have been successfully able to pace up with the growing sentiments of Arbitration. Our team of lawyers for arbitration closely works with clients to identify the key concerns and facts among the parties, to ensure effective communication between them, and to help them exchange mutually agreed upon settlement proposals.
Our expertise and buoyancy in domestic and international arbitration matters are also highlighted in different Arbitral Forums such as NSE (National Stock Exchange), NIXI (National Internet Exchange of India), e-arbitration platforms, MSMEs, etc.
Domestic Arbitration
Domestic arbitration is a type of alternative dispute resolution (ADR) that takes place entirely within India. It is governed by Indian law and is used to resolve disputes between Indian parties or parties with a valid connection to India.
In domestic arbitration, the parties must have an arbitration contract, and the related proceedings would take place in India. The subject matter of the contract and the merits of the dispute must be governed by Indian law. Also, the cause of action for the dispute must have arisen wholly in India or the parties must be otherwise subject to Indian jurisdiction. According to the Arbitration Council of India, parties willing to undertake their proceedings by the Indian Council of Arbitration must have a clause in writing in their contract, that states, “Any dispute or difference whatsoever arising between the parties out of or relating to the construction, meaning, scope, operation or effect of this contract or the validity or the breach thereof shall be settled by arbitration in accordance with the Rules of Domestic Commercial Arbitration of the Indian Council of Arbitration and the award made in pursuance thereof shall be binding on the parties.”
Arbitration is a popular choice in India for settling disputes because –
- Confidentiality – Every arbitration lawyer ensures to maintain confidentiality and protect the trade secrets and other sensitive information of the parties involved.
- Fast – The arbitration process is much faster and more cost-efficient than litigation.
- Flexible – Parties can tailor the arbitration proceedings according to their specific needs and requirements, with mutual consent.
- Enforceable – The arbitration awards are readily and effectively enforced by Indian law.
If you are looking for the best arbitration lawyers in India, consider us! Our law firm is highly regarded in the field of arbitration in India. We have a team of skilled lawyers who specialize in resolving domestic arbitration disputes. Our professionals are dedicated to meeting the legal needs of our clients in India, and we take pride in our track record of successful outcomes.
International Arbitration
This method of dispute resolution is commonly used for foreign investment and commercial and interstate disputes. Although similar in approach to domestic court litigation, international arbitration is carried out by private arbitrators across the country’s borders, ensuring that it is neutral, enforceable, consensual, and a binding means of dispute resolution.
According to Article II (I) of the New York Convention (Formed for the Recognition and Enforcement of the Foreign Arbitral Awards in New York in 1958), international arbitration can be optional, but parties generally opt for the ‘mandatory arbitration clause’ by signing the agreement beforehand. The mentioned article defines such an agreement as “an agreement in writing under which the parties undertake to submit to arbitration all or any differences which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.”
The prominence of international arbitration is a result of the below-mentioned key features.
- Enforceability – The 1958 New York Convention led to the ready Enforceability of the arbitration awards compared to court judgment.
- Neutral Forum – Mostly, parties don’t prefer to submit to the other party’s national authority. Whereas international arbitration provides a neutral forum for resolutions.
- Less Complexity – The arbitration procedure is much more streamlined, flexible, and uncomplicated compared to the national civil rules. Hence, it is better suited to parties from multiple dominions.
- Arbitrators with the Right Knowledge – Parties can choose arbitrators based on their relevant experience and skill in commercial practice, legal structure, trade usage, and the ability to deal with multiple law issues.
Considering the best arbitration law firms in India, ours holds the topmost position, having lawyers experienced in conducting a broad range of international arbitration dispute resolutions. Our experienced team of professionals prides itself in successfully meeting all the legal requirements of our clients across the globe.
