Alternate Dispute Resolution (ADR) is, in an insurance sense, a number of disparate processes used by companies to resolve claims and contractual disputes. Insured clients who are denied a claim are offered this course of action as a form of recourse. ADR is designed to settle disputes outside of the courtroom with the help of an impartial third party. The two most common forms of Alternative Dispute Resolution (ADR) are Arbitration and Mediation/Conciliation.
- Arbitration: A neutral independent party called an arbitrator listens the arguments and collects the evidence from both the sides, and then decides the issue in dispute, similar to the court ruling. Arbitration can either be non-binding or binding. The latter means the decision is final and enforceable, while the former implies that the arbitrator’s ruling is advisory and only set in stone if both parties agrees to it.
- Mediation/Conciliation: An independent third party steps in to try and find a way for the insured and the insurer to agree on a mutually acceptable outcome. The mediator is not called upon to decide who is right or who is wrong but rather to add structure to communication between the disputing parties, so that they can, hopefully, eventually reach a resolution between themselves.
Now the Arbitration and Conciliation Act, 1996 is the governing arbitration statute in India. It is based on the Model Law on International Commercial Arbitration adopted by the United Nations Commission on International Trade Law (UNCITRAL) in 1985. The new law has replaced the old law on arbitration in India i.e. the Arbitration Act, 1940, the Arbitration (Protocol and Convention) Act, 1937 and the Foreign Awards (Recognition and Enforcement) Act, 1961.
Our firm provides various services under the law of arbitrations, some of them are as follows:
- Application before the High Court for appointment of arbitrator;
- Petition before the court seeking Interim relief before or at the stage of arbitration proceedings;
- Petition under section 34 of Arbitration Act, 1999 seeking set aside of the award;
- Execution petition seeking realization of the arbitration award before civil court;
- Appear before arbitrators across the country;
- Arbitration in Commercial disputes;
- Domestic and International Arbitration;
- Enforcement of Awards.