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Arbitration is a system where the parties mutually agree to settle their issues and dispute by an impartial authority rather than approaching the court. This authority is called the arbitrator tribunal.
Arbitration is chosen as a form of resolving their dispute because it is much more efficient as compared to traditional court proceedings which are often time-consuming, cumbersome and expensive. Moreover, the parties can choose an arbitrator from a panel of highly qualified arbitrators from the list of arbitrators for both domestic as well as international arbitrations for all types of disputes ranging from commercial, infrastructure, taxation, mergers and acquisitions etc.
With the influx of billions of dollars of foreign investments in India, businesses in India are booming. In a fast-paced business environment, courts may not be a viable option. With almost 44 lakh cases pending in various High Courts of India, arbitration provides a seamless experience to the parties to resolve their disputes in an expeditious manner.
Therefore, the parties can appoint an arbitrator from the panel with requisite expertise in the field to resolve this dispute efficiently and conveniently.
Mediation is a voluntary process undertaken by the parties engaged in a dispute to facilitate open communication and negotiation. A neutral and impartial third party is appointed as a mediator which can assist such communication to arrive at a common ground.
The mediator will not be imposing solutions in any way, they will merely act to help the parties arrive at a favourable solution. This can be beneficial in disputes such as business disagreements, conflicts in workplaces etc. because mediation is a collaborative and non-adversarial method to resolve conflict.
A peaceful resolution can help to protect the relationship of the parties which might have been strained as a result of the conflict. Moreover, the parties can save their substantial time and resources when compared to litigating in a court of law.
At FIAC, we offer a panel of highly trained and accredited mediators for domestic as well as international mediation. They aid the parties in reaching solutions that are sustainable, practical and amicable.
Conciliation is a system of dispute resolution in which an unbiased third party suggests certain non-binding settlement proposals.
This method can be used for complex business disputes where the parties are not able to reach at a solution by themselves.
FIAC’s skilled conciliators can provide short-term as well as long-term solutions that are amicable and sustainable in nature.
The conciliator can foster open communication and ensure that the interests of both the parties are met.
A proposed solution by the conciliator would not only consider the parties’ legal positions but also the commercial, financial and business interests.
FIAC’s panel of conciliators consist of experts from various fields who can assist in solving highly complicated disputes.
The parties are free to tailor a schedule for the sessions according to their time commitments and have hassle-free sessions.
We, at FIAC, also offer the services of negotiation, arbitration, mediation and conciliation in an online mode.
This is especially beneficial for international matters as the parties to the dispute can save on substantial travel time and costs. Moreover, ODR reduces the possibility of postponement of sessions as parties can easily schedule the sessions without being physically present.
The parties can avail of the highly efficient and convenient process offered by FIAC to resolve their dispute.
In the globalized and interconnected world of business, our highly experienced and committed professionals provide stellar quality ADR services.