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    • Arbitration Process, Held InArbitral Tribunal. While Entering Into A Particular Commercial  Transaction, You Can Agree To Set Up Your Own Private Court To Get Your Possible Dispute/S Decided There, Without Going To Ordinary Law Courts.
      • These Private Courts in law are called as Arbitral Tribunals and
      • process of adjudication is called as Arbitration, and
      • the judgement is called Arbitration Award.
      • And the applicable law is The Indian Arbitration and Conciliation Act 1996.
    • Domestic Arbitration – means an arbitration process  conducted within  India   wherein
      • The Arbitration takes place in India
      • The subject matter of contract is in India
      • The merits of the dispute are governed by the Indian Law
      • The procedure of Arbitration is also governed by the Indian Law
    • International Arbitration – means an arbitration  conducted either within India or outside Indian in cases wherein Its subject matter or its procedure or its organization is international or
      • The parties involved are connected with different jurisdiction; or
      • There is combination of both
      • one of the contracting party is of foreign origin relating to the agreed subject matter of the dispute.
      • The law applicable to the conduct of the arbitration and the merits of the dispute may be Indian Law or foreign law depending on the contract in this regard and the rules of conflict of laws.
      • An arbitration may be international because;
    • The Arbitral Award is final, conclusive and binding between the parties to it. The only way it can be annulled or set aside or modified is by way of challenge of the same on limited grounds in
      • District Court , if the Arbitration is Domestic Arbitration
      • High Court, if the Arbitration is International Arbitration

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