arbitration and it's types.pptx

#arbitration

1. Demystifying Arbitration: U n d e r s t a n d i n g t h e T y p e s a n d A pp l i c a t i o n s o f A l t e r n a t i v e D i s p u t e Resolution

2. Introduction A r b i t r a t i o n i s a f o r m o f A l t e r n a t i v e D i s p u t e R e s o l u t i o n ( A D R ) t h a t i s gain i n g p o p ula r i t y . T h i s p r e s e n t a t i o n w ill e x p l o r e t h e d i f f e r e n t t y p e s o f a r b i t r a t i o n a n d t h e i r a pp li c a t i o n s .

3. W h a t i s A r b i t r a t i o n ? A r b i t r a t i o n i s a p r o c e ss w h e r e p a r t i e s a g r ee t o h a v e t h e i r d i s p u t e r e s o l v e d b y a n e u t r a l t h i r d p a r t y . T h e a r b i t r at o r li s t e n s t o b o t h s i d e s a n d m a k e s a binding decision . It is less formal than li t i gat i o n a n d c a n b e q u i c k e r a n d l e ss expensive.

4. Types of Arbitration T h e r e a r e t w o t y p e s o f a r b i t r a t i o n : a d h o c a n d i n s t i t u t i o n a l . A d h o c a r b i t r a t i o n i s a n i n f o r mal p r o c e ss w h e r e t h e p a r t i e s a g r ee o n t h e a r b i t r at o r a n d t h e r ule s . I n s t i t ut i o n a l a r b i t r a t i o n i s a m o r e f o r m a l p r o c e ss w h e r e a n i n s t i t ut i o n p r o v i d e s t h e r u l e s a n d t h e arbitrator.

5. Applications of Arbitration Arbitration is commonly used in international d i s p u t e s , c o n s t r u c t i o n d i s p u t e s , a n d e m p l o y m e nt d i s p u t e s . I t c a n a l s o b e u s e d i n consumer disputes and family law disputes . It i s o f t e n p r e f e r r e d t o li t i gat i o n b e c a u s e i t i s c o n fi d e nt i a l a n d l e ss a d v e r s a r i a l .

6. A d v a n t a g e s o f A r b i t r a t i o n A r b i t r a t i o n h a s s e v e r a l a d v a n t a ge s o v e r li t i gat i o n , i n c l u d i n g: c o n fi d e n t i a li t y , s p ee d , c o s t - e f f e c t i v e n e ss , fl e x i b ili t y , a n d e x p e r t i s e . P a r t i e s c a n c h oo s e a n a r b i t r at o r w i t h s p e c i a li z e d k n o w l e d ge i n t h e s u b j e c t ma t t e r o f t h e d i s p u t e .

7. C o n c l u s i o n Arbitration is a valuable tool for resolving disputes. It offers parties a flexible , confidential , and cost-effective alternative to litigation. By understanding the different types of arbitration and their applications, parties can make an informed decision about whether to use this form of ADR.

8. Thanks! D o y o u h a v e a n y q u e s t i o n s ? [email protected] + 9 1 6 2 4 2 1 8 3 8 yourcompany.com