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ARBITRATION AND CONCILLIATION ACT, 1996

 Hello friends today we shall discuss some of the important provisions of the Arbitration and Conciliation Act, 1996 (amended as upto date). The main objective of this act is to facilitate the parties  involved to try and solve the dispute in a fair, efficient and with minimal intervention of the courts. The following are some of the important sections of the said act explained in simple terms :-

Sec7—this section talks about the term arbitration agreement. The pre-requisite of starting an arbitration is the need of an arbitration agreement which shall be in writing. It may be incorporated as a clause in the main contract or be entered separately by the parties to it.

Sec 8—it deals with the power of the parties to refer a dispute before arbitration. It means that in case one of the parties to an arbitration agreement files a suit before the court, in such an event, the other party may at the first possible instance and before filing its defense file an application before the court under this section stating that the present dispute is covered under arbitration and hence the same shall be referred to it. With such application the party also has to file the original or the certified copy of the arbitration agreement

Sec 9—Under this section, any party to the contract containing arbitration agreement may file an application for certain interim measures to the court at any time before or after the arbitral proceedings but before the award is enforced under Sec 36 of the Act. Interim measures here may include preservation of the money under dispute, appointment of receiver, preservation of sale of property involved, etc.

 Sec 11— It deals with the appointment of the arbitrators. The parties may mutually agree on the appointment, either in the agreement itself or the same may be appointed by moving an application before the High Court or the Supreme Court as the case may be. Generally, in case there is sole arbitrator, then both parties must consent to its appointment. In case of 3 arbitrators, each party may appoint one arbitrator and then both of them can appoint the third arbitrator mutually.

Sec 20—Talks about the place of the arbitration. Generally parties are free to decide the place of arbitration, In case the agreement is silent on the same and the parties fail to decide it mutually, then the arbitral tribunal shall decide the place as per the convenience of the parties.

Sec 21— This section states as to when the arbitration proceedings are deemed to commence. In common parlance, it is said to commence as soon as the notice to refer the dispute for arbitration reaches the respondent.

Sec 34—This is very important provision which talks of the setting aside of the arbitral award in case of certain situations referred below:-

·         The party who files an application under this section must show that:-

  • ·          It was under some incapacity;
  •       Arbitration agreement not valid in accordance with the law in force
  •       Arbitration award does not contemplate the dispute which is under consideration
  •      The composition of the arbitration tribunal was not as per the say of the parties
  •      The said award is in conflict to the public policy;

It is important to note here that the time period within which application for setting aside the award under this section can be made is 3 months from the date of receipt of the signed copy of the award. Generally the time period cannot be extended except in cases where the party is able to show the existence of sufficient cause which prevented it from filing the said application in time, the same can be further extended by 30 days.

I hope I have explained the basics of Arbitration and Conciliation Act. For any query feel free to write below in the comment section.

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