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In the submission agreement, the parties agree to submit only a specific dispute to arbitration. They can do so at the time the dispute arises, while the parties are engaged in negotiations for a resolution, or even if the dispute is already being actively litigated in court.
The arbitration process usually starts with the complaining party giving notice to the other about their intent to arbitrate a dispute. The notice includes the nature and basis for the proceeding. Following this notice the other party has a period of time to file a written response.
The parties and arbitrators meet in person to conduct the hearing in which the parties present arguments and evidence in support of their respective cases. After the conclusion of the hearing, the arbitrators deliberate the facts of the case and render a written decision called an award.
Submission clause . MEANS THE LANGUAGE THAT IS ATTACHED TO THE TITLE TO FORM A QUESTION THAT CAN BE ANSWERED BY "YES" OR "NO".
2. Submission Agreements / Arbitration Deeds. We noted that arbitration clauses are made before any dispute arises. Submission agreements, however, are agreements to arbitrate made after the dispute has arisen.
Generally, in India the types of the arbitration process are classified into three:Ad hoc arbitration.Institutional arbitration.Fast track arbitration.
In this kind of Arbitration, the parties agree for the dispute to be resolved without an oral hearing. Written documents include pleadings, evidence, and statements of witnesses.
To give you an idea of the process that arbitration typically involves, the American Arbitration Association describes artibtration as having five main steps:Filing and initiation.Arbitrator selection.Preliminary hearing.Information exchange and preparation.Hearings.Post hearing submissions.Award.
Step by step guide to arbitrationStep 1 Show details. Claimant. Appoints its arbitrator, pays the registration fee and files its request for arbitration.Step 2 Show details. Claimant.Step 3 Show details. SCC.Step 4 Show details. Claimant.Step 5 Show details. The Arbitral Tribunal.Step 6 Show details. The Arbitral Tribunal.