Arbitration Legal Service In Firozabad

Arbitration is an adversarial process whereby a neutral third party is empowered to decide the outcome of a dispute. It is often a preferred means of resolving conflicts in order to avoid the expense, delay, and acrimony of more formal litigation and trial. Disputes in arbitration can be resolved by a single arbitrator or a panel of three arbitrators (tribunal). When parties submit their dispute to arbitration, they agree to be bound by and comply with the arbitrator’s decision, also called an award. The award is given after each side presents evidence and witnesses, and has the same force and effect as a contract in writing between the parties. The award can later be confirmed or vacated by the court based upon a petition by the prevailing or non-prevailing party. Once confirmed, the award is entered as a judgment.