Mudit Gupta, University of Petroleum and Energy Studies
INTRODUCTION
International arbitration is similar to domestic court litigation in that it is conducted before private adjudicators known as arbitrators rather than a domestic court. It is an international dispute resolution method that is consensual, neutral, binding, private, and enforceable, and it is typically faster and less expensive than domestic court proceedings. International arbitration awards, unlike domestic court judgments, can be enforced in nearly every country on the planet, making international arbitration the leading mechanism for resolving international disputes.
In India international commercial arbitration has been defined under Section 2(f) of the Arbitration and Conciliation Act, 1996 as "an arbitration relating to disputes arising out of legal relationships, whether contractual or not, considered commercial under Indian law and as defined in this section." The parties can avoid local court procedures by using international arbitration. International arbitration rules differ from domestic arbitration rules.
