Arbitration and Conciliation Act Section 29B — Fast track procedure
CHAPTER VI — Making of arbitral award and termination of proceedings
Civil
Summary
Sub-section (1) lets the parties to an arbitration agreement choose, at any time before or when the arbitral tribunal is being appointed, to have their dispute resolved through the fast track procedure described in sub-section (3). This choice must be made in writing.
Sub-section (2) allows the parties, when they agree to use the fast track procedure, to decide that the arbitral tribunal will consist of a single arbitrator, and that this arbitrator will be chosen by the parties themselves.
Under clause (a) of sub-section (3), the arbitral tribunal must decide the dispute based only on written pleadings, documents, and submissions filed by the parties, without holding any oral hearing.
Under clause (b) of sub-section (3), the arbitral tribunal has the power to ask the parties for any additional information or clarification beyond the pleadings and documents they have already filed.
Under clause (c) of sub-section (3), an oral hearing may be held only if all parties request one, or if the arbitral tribunal decides that an oral hearing is necessary to clarify certain issues.
Under clause (d) of sub-section (3), if an oral hearing is held, the arbitral tribunal may skip any technical formalities and adopt whatever procedure it considers appropriate to dispose of the case quickly.
Sub-section (4) requires that the award under this section be made within six months from the date the arbitral tribunal begins handling the reference.
Sub-section (5) states that if the award is not made within the six-month period mentioned in sub-section (4), then the provisions of sub-sections (3) to (9) of section 29A will apply to the proceedings.
Sub-section (6) says that the fees payable to the arbitrator and the way those fees are paid will be as agreed between the arbitrator and the parties.
Official Text
(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.
(3) The arbitral tribunal shall follow the following procedure while conducting arbitration proceedings under sub-section (1):—
(a) The arbitral tribunal shall decide the dispute on the basis of written pleadings, documents and submissions filed by the parties without any oral hearing;
(b) The arbitral tribunal shall have power to call for any further information or clarification from the parties in addition to the pleadings and documents filed by them;
(c) An oral hearing may be held only, if, all the parties make a request or if the arbitral tribunal considers it necessary to have oral hearing for clarifying certain issues;
(d) The arbitral tribunal may dispense with any technical formalities, if an oral hearing is held, and adopt such procedure as deemed appropriate for expeditious disposal of the case.
(4) The award under this section shall be made within a period of six months from the date the arbitral tribunal enters upon the reference.
(5) If the award is not made within the period specified in sub-section (4), the provisions of sub-sections
(3) to
(9) of section 29A shall apply to the proceedings.
(6) The fees payable to the arbitrator and the manner of payment of the fees shall be such as may be agreed between the arbitrator and the parties.]