Both these terms, arbitration rules, and mediation rules, are very significant and people need to know about them. Usually, these rules are very good and they help the warring parties to solve their disputes without the direct intervention of the court. Knowing about these two rules is very important.
Also Read : Benefits of Hiring Experienced Cybercrime Lawyers
Arbitration Rules:
Coined together in the form of the Arbitration and Conciliation Act of 1996, Arbitration Rules are very effective in handling domestic arbitration, international arbitration, and enforcement of domestic arbitration awards. When enforcing these rules, the arbitration lawyers in Kolkata need to take care of many things and that is done in several steps or phases.
Mediation Rules:
The experts have reasons to believe that no unique or dedicated law exists to deal with the mediation process in India. However, Section 89 of the Code of Civil Procedures in 1908 allows such a practice. The stand of the law facilitates the intended solution of a dispute without the direct intervention of the court of law. Instead, the warring parties elect/select the mediation lawyer by mutual understanding and then do everything from recognizing the issues to identifying the misunderstanding between the parties to an amicable solution to the problem. The decision passed by the mediation lawyer is acceptable to both parties.
Steps involved in Arbitration Rules:
- Arbitration Agreement
- Filing and beginning of the Process
- Appointment of the Arbitrator
- Exchange of information
- Hearings
- Issue of the award after completing the process of arbitration
Phases of Mediation Rules:
- Mediation Consensus
- Appointment of the Mediator
- Opening Statement of the Mediator
- Joint Session
- Individual Sessions
- Settlement of the Dispute and Declaration of the Award
Also Read : Want to File a Complaint in CBI? Things you must Know and Follow!
A Few Differences Between Arbitration And Mediation Rules:
- Arbitration Rules mostly work for commercial disputes, whereas mediation rules work for a wide array of disputes, including commercial, family, diplomatic disputes, matrimonial issues, or even property issues.
- The Arbitration process is expensive whereas the Mediation Process is less expensive than the Arbitration process.
- The arbitration process takes more time to solve a dispute. On the other hand, Mediation Process consumes less time to decide on a dispute.
- In Arbitration Rules, the decision is given/announced by the Arbitrator. In the Mediation process, the warring parties a decision with the help of the mediator!
You need to consult a specialist in these rules if you have some deeper queries about these rules. They are perfect in terms of bringing easier and more acceptable solutions to disputes.
Full Audio : Listen Here
