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The Arbitration and Conciliation Act 1996 is an Act that regulates domestic arbitration in India. [1] It was amended in 2015 and 2019. [1]The Government of India decided to amend the Arbitration and Conciliation Act, 1996 by introducing the Arbitration and Conciliation (Amendment) Bill, 2015 in the Parliament.
The first operation was initiated by ITC which recommended FICA to work with the Law Association of Zambia to create a new Arbitration Act, enacted in 2002, and train potential Arbitrators during 1996/1997 with funding provided by Chemonics and USAID.
The Arbitration and Conciliation Act, 1996 has been enacted to accommodate the harmonisation mandates of UNCITRAL Model. To streamline the Indian legal system the traditional civil law known as Code of Civil Procedure, (CPC) 1908 has also been amended and section 89 has been introduced.
Due to the extremely slow judicial process, there has been a large emphasis on alternate dispute resolution mechanisms in India. While the Arbitration and Conciliation Act of 1996 is a fairly standard Western approach towards ADR, the Lok Adalat system constituted under the National Legal Services Authority Act, 1987 is a uniquely Indian approach.
Arbitration was promoted as being faster, less adversarial, and cheaper. The result was the New York Arbitration Act of 1920, followed by the United States Arbitration Act of 1925 (now known as the Federal Arbitration Act). Both made agreements to arbitrate valid and enforceable (unless one party could show fraud or unconscionability or some ...
The main body of law applicable to arbitration is normally contained either in the national Private International Law Act (as is the case in Switzerland) or in a separate law on arbitration (as is the case in England, Republic of Korea and Jordan [25]). In addition to this, a number of national procedural laws may also contain provisions ...
The model law is not binding, but individual states may adopt the model law by incorporating it into their domestic law (as, for example, Australia did, in the International Arbitration Act 1974, as amended). [2] The model law was published in English and in French. Translations in all six United Nations languages now exist. [3]
Former Federal Mediation and Conciliation Service headquarters in Washington, D.C. (now demolished). The Federal Mediation and Conciliation Service was created as an independent agency of the federal government under the terms of the Labor Management Relations Act of 1947 (better known as the Taft–Hartley Act) to replace the United States Conciliation Service that previously operated within ...