“ All wars are follies, very expensive and very mischievous ones. In my opinion, there never was a good war or a bad peace. When will mankind be convinced and agree to settle their difficulties in arbitration ?”
Arbitration is basically a form of an Alternative Dispute Resolution (ADR). This method of resolution enjoys myriad significant advantages such as lower costs, greater flexibility of processes, More confidentiality, higher chances of settlement, choice of deciding the forum and many more. Arbitration in today’s world is one of the most common forms of ADR. Arbitration is a popular word in the present day business contracts. For parties that enter into a contract which constitutes an arbitration clause knows well that in case of a dispute, they will refer it to a simple, quick, convenient and cost effective process which will save them from the complicated and time consuming process of a court.
In India the Arbitration law is primarily contained in the Arbitration and Conciliation Act, 1996. It is an outcome of several promulgations and ordinances passed by the Indian government in order to meet the economic reforms taking place throughout the country. Recently in 2019 major amendments were introduced in order to make arbitration a much preferred mode of settlement for commercial disputes and making India a hub of International Commercial Arbitration.
Avenues Available
Following are various different avenues where on may work when it comes to the field of arbitration.
Indian Chamber of Commerce
This council has been set up by the famous industrialist GD Birla. It is based in the East and North-Eastern India and various industrial groups are associated with the organization. There is a proper secretariat which handles the conduct of an arbitration. An aspiring arbitrator can always join this institute in order to gain exposure of the business transactions and exposure to the commercial and domestic arbitration.
Indian Council of Arbitration
This is a specialized arbitration body which was established in 1965. Behind the establishment of this organization it was the apex FICCI. Commercial disputes are being handled by the Indian Council of Arbitration and Maritime arbitration services are also generously provided by this institute. Anyone who has an interest in maritime disputes can always consider this as a good option. Recently a list of advocates who were associated with the ICA was put up on the website. It included a diverse field of areas from where these advocates come to apply as an arbitrator. Apart from this there are foreign nationals, judges and people from other walks of life.
International Centre for Alternative Dispute Resolution
This is yet another prospective avenue for aspirants who are looking for a career in arbitration. ICADR is dedicated to providing Alternative Dispute Resolution as a part of their service of promoting arbitration as a viable option of dispute resolution. The Chief Justice of India is the ex officio chairperson of the organization and a variety of disputes are being handled by this particular organization. Disputes such as that of family disputes, civil matters or labor issues are being entertained here. It will certainly provide an enriching learning and work experience for nay one interested in a career in arbitration.
Nani Palkhivala Arbitration Centre
The High court of Madras has in particular recognized this institute for arbitration under the Arbitration and Conciliation Act, 1996. This institution provides for a great learning opportunity on a wide array of topics.
International institutions
Various international institutions such as World Intellectual Property Organization Arbitration and Mediation Centre, Singapore International Arbitration Centre, Hong Kong International Arbitration Centre, London court of International Arbitration gives an opportunity to work on an international level in the field of Arbitration. These Institutions have individual rules and ways of working. One who has a penchant in this area of interest as well as an aptitude to deal with parties at this level can very well think of joining these international institutions.
Conclusion
Law students that have genuine interest in making a career in arbitration can very well do so as there are plethora of opportunities available. To begin with they can read various blogs which primarily focus on international commercial and investment arbitration and may track various legal developments of the same. It is important to stay up to date with the relevant scenario in the world. Participating in moots that focus on arbitration will also give a clearer picture and “leverage” in order to kick start a career in arbitration. One can intern or opt for various diploma courses in order to learn contract drafting and how the business works. Writing blogs on recent changes and just learning and making a strong base of the subject will give a solid start to a career in arbitration.
