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Types Of Arbitration Agreement In India

Any matter of a civil nature related to current or future disputes or litigation, but no dispute related to an illegal transaction, may be referred to the court. An arbitration agreement can only refer a dispute to arbitration if it exists. The arbitration industry is growing day by day, as it has certain advantages over litigation. It saves you time, it is less expensive and it keeps the dispute private, only the parties can be part of the procedure. There are two ways to engage in arbitration mentioned above. One is by a separate arbitration agreement and the other by an arbitration clause in a contractual agreement. Both paths are appropriate, but it is better to look at a separate agreement, as it is fairer than a clause. .