Group CEO & Whole-time Director
Jindal SAW Limited
The very nature of infrastructure is such that there is multiplicity of interests in the projects. And, dispute is a part and parcel of any humanly endeavour wherever multiplicity of interests is involved.
When disputes arise, arbitration is an excellent tool at the disposal of parties especially in this new environment that lays out some regulations that mandate that arbitration needs to arrive at a resolution within a specified timeline. The process of arbitration gives the involved parties focussed attention.
Arbitration allows parties to make the important choice of choosing the right experts for adjudication. Arbitration also allows for a curious co-existence of a dispute and continued contract performance between parties, which enables non-antagonistic relationships among them.
There is still scope for an enhanced institutional framework around this in terms of civil infrastructure, calendar, and discipline to give more teeth to this mechanism where there is more scope for experts from different fields to participate and make this process even more efficient, speedy and robust.
A well-reasoned out and a proper arbitration award even helps if the matter escalates to appeals.
See the complete video here;