ARBITRATION AND CONCILATION

Diffrence between ARBITRATION &CONCILATION

1. Agreements which provide that, if a dispute should arise, it will be resolved by arbitration. These will generally be normal contracts, but they contain an  arbitration clause . Agreements which are signed after a dispute has arisen, agreeing that the dispute should be resolved by arbitration (sometimes called a "submission agreement") ARBITRATION

2. ARBITRATTION CONCILATION Arbitration is much like a mini court in which the parties need to present their case to a panel of arbitrators, along with supporting evidence The conciliation process is handled by an impartial individual known as a conciliator, who meets with the parties involved and works with the parties involved to arrive at a settlement or resolution. Arbitration: means the appointment of an independent person to act as an adjudicator (or judge) in a dispute, to decide on the terms of a settlement . Conciliation : The dictionary defines conciliation as "the act of procuring good will or inducing a friendly feeling".

3. In arbitration, a panel of arbitrators hear the cases of both parties and examine evidence to come at a resolution. In conciliation, most if not all communication goes through the conciliator who is trusted by both parties.  The decision put forth by arbitrators are final and legally binding thereby leaving little room for appeal. While the decision given by the conciliator is not binding, with room for negotiation,