Rise of Arbitraion in Financial Institution

Abstract

Arbitration as a means to dispute resolution is most favorable as compared to litigation. There are numerous benefits and advantages are given to parties that make them choose arbitration to settle their dispute. Even there are some disadvantages too but the way arbitration is becoming more accessible to get justice within stipulated time period making it grow higher in the near future. In the finance sector, arbitration is being used very frequently. The guidelines and various rules are framed to increase arbitration in the finance sector. The rules like FINRA administered arbitration and P.R.I.M.E. Finance among others. In the finance sector, people want speedy and confidential dispute resolution this makes them choose arbitration over the other traditional method. In this research paper, the need for arbitration in the finance sector is discussed. This paper focuses on how the financial sector is going to be benefited if they adopt arbitration to settle disputes. Some of the international reports and guidelines are also discussed which shows the proper procedure adopting arbitration and finance sector. Finally, the summary procedure that is adopted in arbitration is discussed.