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ARBITRATION
DEFINITION:
Arbitration is a procedure in which a dispute is submitted,
by agreement of the parties, to one or more arbitrators who
make a binding decision on the dispute. In
choosing arbitration, the parties opt for a private dispute
resolution procedure instead of going to court.
OR
In case of dispute, the stake holders decides an Arbitrator
to resolve the case. Arbitrator may be an high standard
Architect, civil engineer or a technical person.

EXPLAINATION:
It is a form of alternative dispute resolution (ADR), is a
technique for the resolution of disputes outside the courts. The
parties to a dispute refer it to arbitration by one or more
persons (the "arbitrators", "arbiters" or "arbitral tribunal"), and
agree to be bound by the arbitration decision (the "award"). A
third party reviews the evidence in the case and imposes a
decision that is legally binding on both sides and enforceable in
the courts.

TYPES OF ARBITRATION:
There are four types of Arbitration, such as:
Binding Arbitration
Non-Binding Arbitration
Court Appointed Arbitration
Independent Arbitration

o BINDING ARBITRATION: The parties agree to waive


their right to go to court for a judicial decision which is
binding by the arbitrators ruling.
o NON-BINDING ARBITRATION: The parties have the
discretion to abide by the arbitrator's decision or seek
other venues. In my 20 plus years of arbitration
experience this is the least appealing and successful form
of arbitration; only the attorneys and arbitrator make
money, and the parties rack up the venue bills.
o COURT APPOINTED ARBITRATION: Is just that ordered
by the court. The judge elects an arbitrator of their choice
to hear and render a ruling which by the way is binding.
o INDEPENDENT ARBITRATION: Some have connected
this form of arbitration with names like dispute resolution,
ADR, debt settlement, debt arbitration and debt
negotiating to name a few. However, with this type of
arbitration you will notice vast differences. With this type
of arbitration we represent only one party (usually the
defendant if it happens to be a litigation case). We do not
stay neutral in the dispute, but rather work as a fiduciary,
representing our client to achieve out of court settlement,
IRS tax issues and delinquent accounts payable.

ARBITRATION ACT,1940
The Arbitration Act of Pakistan was prepared on 11th
of March, 1940 and then enforced in the whole country by
1st July, 1940.
In this acts certain points are discussed, such as:
o Arbitration
o Different cases of Arbitration
o Appointments of Arbitrator in different cases
o Powers awarded by the court to the Arbitrator
o Arbitration out of Court and different cases
o Arbitration within the court with no suit pending
o Arbitration in suits

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Jurisdictions
Limitations
Appeals
Procedures
Law document is attached.

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