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Assignment-2-Arbitration
Name: Julan Das
ID: 02610-13
Class: 3A
Teacher: Mr
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It can happen at any time and anywhere
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So in such situations an activity can be held among each other in order to discuss such
matters and find solutions, this will save time money up to certain level
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Arbitration have brought lots of benefits in such matters and is now widely been used by
everyone to resolve such kind of issues
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What is arbitration?
Arbitration is a kind of tool for solving disputes at its core
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An individual arbitrator or a tribunal arbitrator may be
required for the arbitration hearing
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So the parties facing disputes and problems
hand over their power to solve the dispute to the arbitrator(s)
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Arbitration can be classified in the following ways:

Classifications of Arbitration
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It is a quarrel
between two commercial parties
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The disputes arising between a supplier of goods and a consumer is solved in Consumer
Arbitration
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The disputes related to the settlement of employment, belongs to Labor Arbitration
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k
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Grievance Arbitration)
This kind of arbitration deals with the agreement that is breached or misjudged
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Moreover, the main goal
behind this is the parties are obliged to gather at various steps in their own particular
protest in order to reflect and discuss it
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ÿ Interest arbitration (a
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a
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The statues basically bands a valid strike, exclude, these
agreement conflicts must be solved someway; in such situation by Interest Arbitration
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Instead of dragging the matter to the
court, the parties desire to go for arbitration and elect a confidential “Dispute Resolution Procedure”
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An Arbitrator
accomplishes a vital role in substitute dispute resolutions and most particularly in arbitrations
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Generally an arbitrator goes through the documentation and evidences given by the dispute people at the
hearing and analyze the dispute by providing a suggestion that might combine money award
Arbitrators suggests as the Decision-Maker or a Referee in the proceedings of arbitration, similar to a
judge throughout the court case
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In case if he is belonging to special arbitration sector like as the American
Arbitration Association, then he will be bounded by the regulations of that sector as well, involving a group
of ethical rules
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Furthermore in recent history, arbitration played a significant part
in resolving international disputes at borders
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This element can be accredited to the lack of
developed enforcement ways for global law, and the shortcomings of implanting global arbitral awards
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Procedures and process of arbitration:
An agreement that involves a contract for arbitrating the disputes basically focuses on few key factors
linking to other future arbitration, potentially
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If an outsider’s services is used to tackle arbitration, the
agreement may clarify whether that services already-established the regulations and procedures shall be
used
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Furthermore, in spite of the rules that are implemented, the following are few
key issues that are basically discussed:

Number of Arbitrators – The members basically specifies in the agreement either one or a
group of three or more arbitrators will decide the disputes
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How Arbitrators will be Chosen – The parties can decide to hire arbitrators in variety of
ways which includes by the contract, select one from a group of arbitrators or by the elimination
process
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Evidence – In ordinary litigation, rules of the evidences can be complicated
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Awards – These rules most often dictates the ways that an award can take, including any kind
of capable time period for the decisions
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Arbitrations process is basically projected to restructure the procedure and minimize the expenses in
comparison with solving claims in courts
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With few crucial exceptions, arbitrations are commonly agreed more informal than prosecution, and
is basically desired to facilitate more simplified, save time, and money-making way for solving valid
disputes
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The opposite party
gets a time period to react in writing, stating either they agree to solve this issue via arbitration
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The main reason that arbitration process most often realized as a quick and cheap as compared to
prosecution and court cases as the documentation and paperwork included in the conflict is simplified and
cut down abruptly
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The significance and scope
of International Commercial Arbitration (ICA) has extended drastically in the past few decades and has
formed the common and logical way to resolve global trade and economic conflicts
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Most of the marine agreements includes an arbitration article which requires that parties should carry
arbitration of any conflict is under the contract
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It should also indicate the place of arbitration
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The commercial and maritime arbitration might include a number of options in considering law
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The arbitration effectives in supporting final and combined settlement of global disputes commercially,
extremely depending upon the capability to achieve national court recognition and enforcement if a party
denies to abide with accomplishment of the award
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Arbitration is proved as one of the most commonly accepted strategy for trade issues particularly along
the domestic borders and territories
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The process of arbitration is having high preference when it comes to solve the commercial disputes
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Arbitration also allows the parties to select arbitrator with the required particular proficiency for deciding
the cross-border conflicts, which is not appropriate by making lucky draws in the court
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Arbitration permits the parties to ignore concern that might occur in
accordance with court procedures and also prevents court delays which, in some court, it can also
exceed five or maybe ten years
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It has brought revolutionary changes in trade and maritime sector
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As a student of Logistics and Supply
Chain, we have to know its importance, its scope and its characteristics
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It’s much easier and faster as well as keeps the
matter private and we will have the ability and comfortableness to share our feelings and opinions which
is not always easy to perform such things in front of the judge at court
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References:
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What is arbitration? (2016)
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mediate
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cfm#

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Anon
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d
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wipo
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html

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Grimsley, S
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Arbitrator, Definition, Role & Qualifications: Retrieved from the
online website:
http://study
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html

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Leb, C
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Arbitration: Retrieved from University of Colrado website:
http://www
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org/essay/arbitration

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Reuters, T
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Arbitration rules and procedures: Retrieved from online website:
http://adr
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com/arbitration/arbitration-rules-and-procedures
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(n
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ARBITRATION IN THE RESOLUTION OF MARITIME DISPUTES:
Retrieved from online website: http://www
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com/media/arbitration-maritimedisputes
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Durosaro, W
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The Role of Arbitration in International Commercial Disputes:
United Kingdom
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arcjournals
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pdf

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Sussman, E
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(n
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Benefits of arbitration for commercial disputes: Retrieved
from online website:
http://www
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org/content/dam/aba/publications/dispute_resolution_magazin
e/March_2012_Sussman_Wilkinson_March_5
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pdf

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Dispute Resolution Reference Guide
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d
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Retrieved from online website:
http://www
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gc
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html

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