In normal circumstances courts, do not alter any contract because parties have the supremacy to decide the provisions of a contract, however fair or unfair it may be. But many a times interpretation of arbitration clauses have been a challenge to the courts.
Arbitration is kept beyond the technical complex procedures prescribed in the Code of Civil Procedure & Evidence Act. Arbitration Procedure can be either decided by the parties jointly or by the arbitrator in consultation with parties, in case of Adhoc Arbitration.
Prior to 2010, parties using international arbitration as the dispute resolution mechanism did not have an effective procedure relating to interim relief. The most important reason for parties opting for international arbitration is the party autonomy to select a neutral law and an arbitrator from a neutral country.
Choosing a neutral seat of Arbitration, is an established and well recognized practice in the field of International arbitration. But normally parties cannot vest jurisdiction to a court, by consent when the said court does not have a jurisdiction by law.
In a recent Judgement of the Delhi High Court dated 07th November 2017 in a case between Emaar MGF land Limited Vs Aftab Singh reported as 2017 SCC Online Del 11437, High court dealt with an application filed under S.37(1) of the Arbitration and Conciliation Act,1996.
In most of the countries, if an intention of the party to go for arbitration can be traced from the dispute resolution clause between the parties, that clause is treated as a valid Arbitration clause.
The globally recognized foundation of arbitration is “party autonomy” because parties come forward to waive off their rights to approach the national courts. Party autonomy is not a simple decorative phrase; it is almost absolute in nature.
India has amended its procedural law, Arbitration and Conciliation Act,1996 by an amending Act, Arbitration and Conciliation (Amendment) Act,2015 with effect from 23rd October 2015.
2015 Amendment Act to the Arbitration and Conciliation Act,1996 brought in many changes to ensure impartiality and independence of the Arbitrators. The above said Amendment Act, came into force on 23rd October 2015.
In India Arbitration and Conciliation felids are governed by Arbitration and Conciliation Act,1996 (The Act). The said Act determines the procedural aspect of Arbitration and Conciliation proceedings seated in India including the confidentiality of the documents.
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