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Advance Commercial Law

Name: Saim Amjad

Registration No: BAF05213070

Topic: Arbitration act of Pakistan

Submitted to: Sir Khalid Aftab

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Arbitration act of Pakistan

Definition;
The law of arbitration is a legal process in which a third party,
called an arbitrator, is appointed to resolve a dispute between
two parties.

•The process is often used as an alternative to going to court.

•The arbitrator listens to both sides of the dispute and makes a
decision that is usually binding.
•The decision of the arbitrator cannot be appealed, except in
very limited circumstances.
•The arbitration process is often faster and less expensive than
going to court, and it can be more flexible and less formal.
•The parties involved in the dispute may agree to the rules and
procedures that will be used in the arbitration process. These
rules and procedures may be different from those used in
court.

•The arbitrator must be impartial and must not have any

conflicts of interest.
•The decision of the arbitrator is usually final and binding,
which means that the parties must accept the decision and
cannot take the dispute to court.
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Who can be an arbitrator?

An arbitrator can be any person who is impartial and has the

necessary qualifications and experience to resolve the dispute.
They may be a lawyer, a retired judge, or an expert in the field
related to the dispute.

When to applied an arbitrator?

Arbitration is often used as an alternative to going to court

when two parties have a dispute that they cannot resolve on
their own. It can be applied when two parties have a dispute
related to a contract, business transaction, or other legal
matter.