Arbitration, conciliation, and mediation are alternative dispute resolution (ADR) methods for resolving conflicts outside of court. Arbitration involves a neutral third party making a binding decision, while conciliation helps parties find a mutual solution. Mediation aims for common ground through a mediator's guidance. Arbitration and Conciliation offer confidentiality, informality, and quicker resolution than court litigation, making them a versatile option for a variety of conflicts.
The Arbitration and Conciliation Act 1996 is a law that guides dispute resolution through arbitration and conciliation. It explains the legal procedures, qualifications of arbitrators and conciliators, and enforcement of awards and promotes these methods as an effective alternative to court litigation.
To better understand the Arbitration and Conciliation Act, it is important to have an Arbitration and Conciliation books as it acts as a comprehensive reference guide to understand the processes, rules and procedures involved in resolving disputes efficiently.
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