INTERNATIONAL COMMERCIAL ARBITRATION PROBLEMS AND PROSPECTS

چکیده مقاله

The concept of access to justice is a major component in every democratic society. In fact it is crucial to the proper functioning of the society. With the advent of modern States formal forms of adjudication were established. The Constitution of each State imposed an inalienable obligation on the State to protect, respect and fulfil the human right of all, irrespective of caste, creed or nationality. This research is undertaken to examine the various facets of International Commercial Arbitration. The Arbitration and Conciliation Act of 1996 has divided itself into two parts. The First part deals with Arbitration that is conducted in India and its enforcement. The Second part provides for arbitration conducted in a Foreign Country and enforcement of such foreign awards. The resolution of disputes through Arbitration is the most expeditious, cheap and flexible means of dispute resolution. This is a doctrinal research that will critically examine the existing legislation on arbitration-The Arbitration and Conciliation Act of 1996, its interpretation by the Courts and on case comments. The Arbitration and Conciliation Act, 1996 is a long leap in the direction of alternate dispute resolution systems.

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