Arbitrator and Conciliator

Quick decision of any commercial dispute is necessary for smooth functioning of business and industry. Internationally, it is accepted that normally commercial disputes should be solved through arbitration and not through normal judicial system. Hence, the need of Alternate Dispute Resolution. (ADR). There are four methods of ADR - negotiation, mediation, conciliation and arbitration. 'Negotiation' is cheapest and simplest method. If it does not work, mediation through a mediator can be tried. If it does not work, conciliation and arbitration will be useful. Arbitration and Conciliation Act,1996 makes provision for conciliation and arbitration as ADR mechanisms. Being Chartered Accountant we provide our services to assist the parties to a dispute either as a counsel / mediator / conciliator or may decide on the dispute of the parties as an arbitrator

"Object of arbitration and conciliation

Object of arbitration and conciliation is settlement of dispute in convenient, expeditious, inexpensive and private manner so that they do not become the subject of future litigation between the parties.

Decision of Arbitral Tribunal is termed as 'Arbitral Award'. The decision of Arbitral Tribunal will be by majority. The arbitral award shall be in writing and signed by the members of the tribunal.

Conciliation is the amicable settlement of disputes between the parties, with the help of a conciliator. In conciliation proceedings, there is no agreement for arbitration. In fact, conciliation can be done even if there is arbitration agreement. The conciliator only brings parties together and tries to solve the dispute using his good offices. The conciliator has no authority to give any award. He only helps parties in arriving at a mutually accepted settlement. However after the settlement agreement is signed by both the parties and the conciliator, it has the same status and effect as if it is an arbitral award.

Certain matters which are not arbitrable are

* Suits for divorce or restitution of conjugal rights

* Taxation

* Non-payment of admitted liability

* Criminal matters."