Navigating the Third-Party Funding Conundrum: A Regulatory Blueprint – Part 1
Third-Party Funding (TPF) refers to the practice where an external financier covers the legal expenses of a disputant in arbitration without being directly involved in the dispute. This financial assistance might include covering the legal fees or settling any awards or judgments against the funded party.
Navigating the Third-Party Funding Conundrum: A Regulatory Blueprint – Part 2
The emergence of TPF in a developing jurisdiction like India has led to the twin faceted challenge of ensuring regulation while still promoting the access to arbitration.
Pre-Arbitral Procedures: To be Mandatory or Not?
Multi-tiered dispute resolution clauses (“MDR”) require parties to fulfill mandatory pre-adjudicatory requirements before the commencement of arbitral proceedings. So far, Indian courts have generally upheld a pro-arbitration stance, treating such pre-arbitral steps to be directory rather than mandatory.
Breaking New Ground: The Addition of Coordinated Proceedings under SIAC Rule 17.
The Singapore International Arbitration Centre (“SIAC”) had published the Draft 7th Edition of the SIAC Rules for public consultation on 22nd August, 2023 which have, after due consideration come into effect from 1st January 2025. This is the first time any changes have been made to the SIAC Rules since 2016.
Interim Measures Advancement in Arbitration: Backup Dancers to Global Enforcers
A well-known personality in international arbitration put it succinctly: To achieve the noted goals arbitration protects the parties’ sovereignty and ensures that the decision is binding. Interim measures must therefore be recognized as an important procedural safety measure that would ensure parties’ interests while considering the enforcement of the final award and increase efficiency in the process. This autonomy applies to these measures to the extent that the schools, colleges, and universities are private ones.
Settling the Unsettled: Can ADR reshape India’s Competition Law?
Outside Court Settlement or Alternative Dispute Resolution (‘ADR’)(as is widely known) refers to the settlement of disputes privately, without going to the courts. This substitute is being widely used and relied on in the civil disputes, which are in personam pursuant to Section 89 of the Code of Civil Procedure.
AI-Driven Decision-Making in Arbitration: A Double-Edged Sword
Alternative Dispute Resolution (“ADR”) though relatively newer on the horizon, finds its ground roots in the past ranging from informal panchayats in ancient India to councils in Rome signifying the importance of such third party efforts. Owing to the efforts undertaken by international organizations including the United Nations, this sector is witnessing vast growth. With the continuous development of Artificial Intelligence (“AI”) and its integration into ADR methods, questions pertaining to its efficiency and ethical boundaries remain unanswered.