New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

      Under the Arbitration and Conciliation Act, 1996,

    what is the primary purpose of arbitration?
    A To decide criminal and civil disputes voluntarily Correct Answer Incorrect Answer
    B To provide a forum for negotiation Correct Answer Incorrect Answer
    C To resolve civil disputes outside of court voluntarily Correct Answer Incorrect Answer
    D To appeal against court judgment. Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Arbitration is a method of alternative dispute resolution (ADR) that provides a private and efficient way to resolve civil disputes. It allows parties to submit their disputes to one or more arbitrators who make a binding decision, known as an arbitral award. This process is an alternative to traditional litigation in court and is often chosen for its speed, flexibility, and confidentiality.

    Practice Next