Paper Title
Arbitration in the Globalized Era: Trends, Challenges, and Implications
Abstract
Arbitration has emerged as a prominent alternative to traditional litigation in resolving disputes, both on international and domestic fronts. Arbitration is not a contemporary phenomenon but is an informal way to resolve conflicts by following the procedures and rules. Alternate Dispute Resolution has become more effective & popular in the contemporary world because of disillusionment with the present formal legal system which may vary from country to country. The arbitration process is an instrument that preserves the rights of the disputant parties in securing justice without delay and speedily. The main object of the arbitration as held from time to time by many courts is to settle all the disputes between the disputants and to avoid further litigation. This research paper examines the contemporary trends and challenges shaping arbitration practices globally. By conducting a comparative analysis of its application in different legal systems, the study aims to identify key trends in arbitration procedures, explore challenges encountered in its implementation, and discuss strategies for addressing these challenges in the context of evolving legal landscapes.
Keywords: Arbitration, Dispute Resolution trend, International Arbitration, Challenges.