Kiran Rijju inaugurates international arbitration centre in Srinagar
Aaqib Ahmad
Centre will help in cases pending since years
Srinagar April 14 (PTK) Kiran Rijiju Hon’ble Union Minister of Law and Justice today inaugurated the international Arbitration centre at old court complex court road Srinagar today.
While talking with media Minister said that such type of centres will help in solving the cases which are pending since last several years.
According to PTK ,I have personally visited to several places of the Kashmir where I am witnessing that development is going on ground, he said.
We have been talking of development and schemes at New Delhi but we are checking that these schemes are being implemented on ground, he said.
Pertinently in Arbitrary centres, the parties to the dispute usually agree on the arbitrator, so the arbitrator will be someone that both sides have confidence will be impartial and fair.
The dispute will normally be resolved much sooner, as a date for the arbitration can usually be obtained a lot faster than a court date. In Virginia, a trial date is normally about twelve months from the date the lawsuit is filed.
Arbitration is usually a lot less expensive. Partly that is because the fee paid to the arbitrator is a lot less than the expense of paying expert witnesses to come and testify at trial. (Most of the time the parties to arbitration split the arbitrator’s fee equally). There are also lower costs in preparing for the arbitration than there are in preparing for a trial. Partly this is due to the fact that the rules of evidence are often more relaxed than in a trial, so that documents can be submitted in lieu of having a witness come to trial and testify. For instance, if a claimant has several doctors who are out-of-state, the cost of bringing them to trial or going out-of-state to take their depositions may be prohibitive for trial, but in arbitration, you can usually use just their records and reports.
Unlike a trial, arbitration is essentially a private procedure, so that if the parties desire privacy then the dispute and the resolution can be kept confidential.
If arbitration is binding, there are very limited opportunities for either side to appeal, so the arbitration will be the end of the dispute. That gives finality to the arbitration award that is not often present with a trial decision. (PTK)
