Arbitration too is a method employed for resolving disputes, the key being that it is legally enforceable. But, it is not the same as going to legal courts. Here, parties involved in a conflict consultan arbitrator to analyse the issues, hear them out, take stock of their offers for agreement and finally, deliver an award on the course of action they should take. Unlike mediation, an arbitrator's award for an agreement is legally binding, and once having committed to an arbitration process, parties do not have the option of contesting it without a legal recourse; the latter may escalate not just the dispute, but also financial costs and timeframe for resolution. Most big businesses insert arbitration clauses in their contract while sealing high-stake deals, in favour of a systematic and constructive way to deal with conflicts, which are sometimes unavoidable. In India, parties can formally appoint any person they collectively trust, to professionally arbitrate between them. Normally, they choose an arbitrator with the requisite level of expertise to understand their issues, who they trust to be impartial and prudent.
Arbitration is deemed better than going to legal courts to settle disputes because it is less time-consuming and less expensive. Unlike mediation, arbitration is an evidence-based process, just as trial courts, but it is informal enough to let the arbitrator consider subjective opinions of parties. Yet, the decision taken by an arbitrator will be in consideration with what the law would support, as if it were a legal case. Prof Himanshu Rai offers his expertise as an arbitrator to individuals, groups, commercial establishments locked in conflict.
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I am Rahul Saraswat a 5th year student at Gujarat National Law university. I saw your website and i found that you are interested in Alternative Dispute Resolution. Being a student of law, my area of interest is domestic arbitration. I am running a platform “LexADR” (www.lexadr.com) where I cover exclusive interviews of ADR practitioners in India. The aim behind the platform is to make a community of ADR professionals and budding ADR enthusiasts in order to make India the biggest hub of ADR. Hon’ble PM Modi in 2016 has said that he wants to make India the greatest hub of arbitration but i believe that before making India a greatest hub we need to make it biggest hub. LexADR is a legal learning platform which is exclusively dedicated towards domestic ADR. I request you to please spare some time and give LexADR and budding ADR enthusiasts an opportunity to learn from you through your interview. Hope to hear from you soon.