Commercial arbitration is settling the disputes arising from commercial transactions done between the two parties. It is an alternative to going to the court to settle the matter. There are corporate laws and arbitration rules that help the parties adopt this way for speedier and less costly settlement of issues. The corporate lawyers in Mumbai conversant with the Commercial Law can act as an arbitrator and represent your side.
Since Mumbai is an international business hub where commercial transactions involving local and foreign businesses take place, the companies here appoint the corporate law firms in Mumbai. These law firms deal in various areas of commercial arbitration practice. Let’s take a quick look at the areas covered.
Areas of arbitration covered by commercial lawyers
The commercial arbitration experts available at the law firms dealing in corporate matters have the expertise in the following areas:
- Arbitration before tribunal: The arbitration tribunal has a panel of unbiased adjudicators who provide solution to the dispute after hearing the each side’s points. The corporate law firms in Mumbai have the arbitration experts who can get the issue resolved by getting the award in the clients’ favor. In case the award is not satisfactory, the lawyers can help you raise this issue in the court.
- Court litigation: There are several cases in which court litigation is involved. The corporate entities require the approval of legal authorities to get into a contract. With the legal approval, the promises made are covered by the legal binding and the entities get the definite guideline on how to move ahead. Some of the court litigation matters include:
- Appointment of arbitrator: The companies or business firms can complete the process of appointing an arbitrator by doing the requisite paperwork and submit it to the relevant authority. Only after this approval, a lawyers becomes eligible for handing the arbitration matters. Similarly, removal of arbitrator also requires legal intervention for marking the completion of the process.
- Interim relief: In any matter, if the companies need interim relief to plan the future course of action to buy time for arranging for the penalty, etc., the arbitration experts can help get this option.
- Challenging any Tribunal Award: The companies have the right to challenge a Tribunal’s ruling if it misses a crucial point or if they feel they are convicted wrongfully. The arbitration lawyers for commercial cases can help you present your point in the course.
Top business areas where arbitration is needed
The arbitration lawyers provide their advice in the matters related to the following areas:
- Power and Infrastructure
- Insurance and finances
- Gafta’s arbitration
- Railway departments matters, etc.
Arbitration service is an important offering of the corporate law firms. Whether your party is in Mumbai or other parts of the world, you can seek help of the domestic and international commercial arbitrators. Their services can help you manage operational affairs smoothly. Also, you can enjoy speedier alternative than going to the court and getting entangled in ensuing processes or procedures.