Commercial Arbitration : Factors Making it Lose out Against other Processes

Abstract

Today the problems in litigation processes are well recognized. Arbitration’s place in alternative process is also not free from controversy. Arbitration has become one of the principal means of settlement of commercial disputes especially in international trade; however, it is not unreasonable to predict that its original value against other processes is being lost. The principal objective of this article is to find out the various vehicles that are responsible for losing out against other alternative methods. It also attempts to explore how and why do such factors facilitate it to lose its credit. The parties of disputes especially commercial disputes will increasingly turn to arbitration for resolution, if arbitration can act with positive results including less adversarial relationships, faster decisions and lower dispute resolution costs. The paper is mostly analytical in nature and largely based on secondary materials of law like books, articles, theses, and several online writings. Primary sources of law are also used in this study. The paper mainly focuses on certain issues of arbitration dealing with commercial disputes rather than arbitration conducted in other fields, but electronic commerce issues will not come under ambit of it.