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    Home»UK»The Growing Importance of Arbitration in Commercial Justice
    UK June 12, 2024

    The Growing Importance of Arbitration in Commercial Justice

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    In the ever-evolving landscape of commercial justice, arbitration has emerged as a crucial method for resolving disputes. Chief Justice of India (CJI) Dhananjaya Y Chandrachud recently emphasized that arbitration is no longer just an alternative but the preferred method for dispute resolution. This article delves into the significance of arbitration in commercial justice, highlighting its benefits and the evolving role of technology in the process.

    Why Arbitration is the Preferred Method

    The Role of Public Policy

    CJI Chandrachud stressed that arbitration should be guided by considerations of public policy, empowering courts to intervene when necessary to prevent injustice. This balance ensures that while arbitration provides a streamlined process, it also remains fair and just.

    Efficiency and Speed

    One of the key reasons arbitration is preferred over traditional litigation is its efficiency. Courts are often burdened with numerous cases, leading to long delays. Arbitration offers a faster resolution, which is crucial for commercial entities needing quick decisions to continue their operations smoothly.

    The Evolution of Arbitration in India and the UK

    Shared Understandings

    In a recent address at the Supreme Court of the United Kingdom, CJI Chandrachud discussed the shared understandings and developments in arbitration between India and the UK. He highlighted how both countries are embracing arbitration to provide individualized solutions to legal problems outside the traditional judicial setup.

    The Human Element

    While technology is advancing rapidly, CJI Chandrachud expressed hope that it will not replace the essential human functions of adjudication. An arbitrator’s assessment of a witness’s demeanor is a critical part of the process that cannot be reduced to a mathematical formula. This human touch is vital for understanding and processing submissions to arrive at a just decision.

    The Trust in the Judiciary

    Impressive Disposal Rates

    The Indian judiciary’s efforts were praised, with High Courts disposing of 2.15 million cases and District Courts 44.70 million cases in 2023. These figures reflect the public’s trust in the judiciary and its ability to handle a large volume of cases efficiently.

    The Mantra of Justice

    The CJI emphasized that every person who approaches the judiciary deserves a just remedy, regardless of the case’s size. This approach ensures the widest access to justice, although not every case needs to be resolved in court. Emerging forms of dispute resolution like arbitration and mediation are gaining acceptance and playing a significant role in alleviating the courts’ burden.

    The Future of Arbitration

    Technological Integration

    With the pace of technological advancement, the role of technology in arbitration is likely to increase. However, it should enhance rather than replace the human elements that are crucial to the process. Tools like virtual hearings and AI-driven analytics can make arbitration more efficient while preserving the essential human judgment.

    Continuous Evolution

    As arbitration continues to evolve, it’s essential to maintain a balance between efficiency and justice. By incorporating public policy considerations and leveraging technology responsibly, arbitration can continue to be a preferred method for commercial dispute resolution.


    Conclusion

    Arbitration has firmly established itself as a cornerstone of commercial justice. Its efficiency, combined with the flexibility to incorporate human judgment and technological advancements, makes it an ideal choice for resolving disputes. As Chief Justice Dhananjaya Y Chandrachud highlighted, arbitration is not just an alternative; it is the preferred method for achieving commercial justice in today’s dynamic legal landscape.

    By Newzscoop.co.uk

    Alternative dispute resolution Arbitration Business practices Commercial justice Commercial law Corporate disputes Dispute resolution Legal arbitration Legal proceedings Legal trends.
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