Procedural Delay in Arbitration – Issues and Challenges

People of commercial transactions are well-attracted by the alternative dispute resolution methods for their disputes to be solved because of the reason of time-drag and expenses prone to the litigation system through the law courts. However, the advantages surrounded the alternative dispute resolution to be one to meeting its standard and level in mitigating the costs and timely solving of disputes which the parties are highly expecting as essential in this type of resolution process. The settling of disputes through arbitration system not only comprising the legal aspects but also the business practices which would play a role in this resolution process. More to say, such business practices are coupled with the law but it is kept silent in achieving the same through the legislation which supports the system of arbitration. Therefore, it is important and most relevant at this juncture to discuss the features for the time-saving arbitration process. It is indispensable to follow the procedural aspects to settle the disputes but it would be proper to have such a procedure which would not hinder the arbitration process particularly regarding the time-delay for the same. The time-saving arbitration could be achieved by having solutions relating to the seating and meeting of arbitrators and other arrangements, etc. It would be the discussion in this article, about the issues prevailing around in having a time-saving arbitration and search for the solutions through the legal aspects applied and utilized for the arbitration.