New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    In case parties adopt fast track procedure for

    arbitration_____.
    A Court may on an application made by parties appoint sole arbitrator. Correct Answer Incorrect Answer
    B Parties may agree to appoint a sole arbitrator who shall be chosen by the parties. Correct Answer Incorrect Answer
    C Parties may agree for a sole arbitrator to be appointed by High Court. Correct Answer Incorrect Answer
    D Court shall suo moto appoint one arbitrator for the parties Correct Answer Incorrect Answer
    E There is no any specification as to appointment of arbitrator or arbitral tribunal. Correct Answer Incorrect Answer

    Solution

    Arbitration & Conciliation Act  S. 29B. Fast track procedure.—( 1) Notwithstanding anything contained in this Act, the parties to an arbitration agreement, may, at any stage either before or at the time of appointment of the arbitral tribunal, agree in writing to have their dispute resolved by fast track procedure specified in sub-section (3). 2) The parties to the arbitration agreement, while agreeing for resolution of dispute by fast track procedure, may agree that the arbitral tribunal shall consist of a sole arbitrator who shall be chosen by the parties.

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