Arbitration and Conciliation Act Overview

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Questions and Answers

What distinguishes arbitration from mediation?

Arbitration is non-binding while mediation is binding.
Arbitration involves a third party making a decision, while mediation facilitates discussion. (correct)
In arbitration, parties represent themselves; in mediation, they need legal representation.
Mediation requires a formal hearing, whereas arbitration does not.

Which of the following matters can be referred to arbitration?

Administrative tax disputes
Family law disputes
Criminal cases
Disputes covered by an arbitration agreement (correct)

Which statement best describes an arbitrator's powers regarding interim relief?

An arbitrator can issue interim measures only after a final award is made.
An arbitrator cannot grant any interim relief.
An arbitrator has limited power to provide interim measures in all disputes.
An arbitrator can grant interim relief similar to a court under the Arbitration and Conciliation Act. (correct)

In the context of arbitration, what is the difference between an arbitration agreement and expert determination?

An arbitration agreement leads to a binding decision; expert determination is advisory. (C) Signup and view all the answers

Which of the following accurately describes the finality of an arbitral award?

An arbitral award is final and binding unless challenged on specific grounds. (B) Signup and view all the answers

What is the primary difference between institutional and ad-hoc arbitration?

Institutional arbitration is governed by established rules from specific institutions, whereas ad-hoc arbitration is not. (D) Signup and view all the answers

When can a court be bound to refer a dispute to arbitration?

When there is a clear arbitration agreement in place. (D) Signup and view all the answers

Which statement about the procedure for appointing an arbitrator is true?

Parties can mutually agree on an arbitrator without court involvement. (C) Signup and view all the answers

What are the key amendments introduced in the Arbitration and Conciliation Act?

Key amendments include provisions for expedited procedures and clarity on interim measures. Signup and view all the answers

Describe the primary functions of an arbitral tribunal compared to a permanent court.

An arbitral tribunal resolves disputes based on party agreements, while a permanent court operates under statutory law. Signup and view all the answers

What types of disputes are typically referred to arbitration?

Disputes in commercial contracts, construction, and international trade are commonly referred to arbitration. Signup and view all the answers

What is a settlement agreement in the context of arbitration?

A settlement agreement is a mutual resolution between parties that ends the dispute before an arbitral award is rendered. Signup and view all the answers

Explain the differences in the powers of a court under sections 9 and 17 of the Arbitration and Conciliation Act for interim relief.

Section 9 allows courts to grant interim relief before and during arbitration, while Section 17 empowers the arbitral tribunal to do so once proceedings have commenced. Signup and view all the answers

What is the procedure for the appointment of an arbitrator as per the Arbitration and Conciliation Act?

The procedure involves parties agreeing on an arbitrator or, if they fail, applying to a court for appointment. Signup and view all the answers

What is the significance of an arbitral award being final?

The finality of an arbitral award means it is generally binding and cannot be appealed, ensuring quick and efficient resolution. Signup and view all the answers

How does the limitation act impact arbitration proceedings?

The Limitation Act affects the timeframe within which disputes can be referred to arbitration, imposing strict deadlines. Signup and view all the answers

Flashcards

Arbitration

A process where parties to a dispute submit their case to an impartial third party (arbitrator) for a binding decision.

Arbitration Agreement

A contract that parties create to resolve disputes through arbitration.