Arbitration has become sine qua non in all commercial ventures across the globe. In India, as in other countries, the unpredictability of outcomes of litigation has led to adoption of arbitration as the primary means of dispute resolution. The law and procedures in this area consequently have developed steadily and understanding the limits and application of this law in practice is crucial.
Drafting of a proper and suitable arbitration and mediation clause is the basis for a successful arbitration challenge and defence. Depending upon the type of agreement, whether it is a joint venture agreement, financing arrangement or a commercial contract, the scope and complexity of the arbitration clauses need to be suitably drafted. In addition, it is necessary to understand and minimize the risk posed for arbitration and litigation arising out of current and prospective business decisions of the companies. It is imperative that the arbitration clauses be prepared with expert advice.
In the world of cross border transactions and complex economic and commercial relations, arbitration and dispute resolution involve multiple claims between several parties across various jurisdictions. Developing and implementing a cogent strategy for handling arbitration is the bedrock of successful arbitration challenge and defence. Effective representation of the case with knowledge of the arbitration law and procedure and the court procedures and inclinations completes the strategy.
The arbitration team in L&S consists of attorneys specializing in this area for the last several years and has handled complex local and cross-border arbitrations. Attorneys in L&S have successfully represented clients in several arbitration proceedings and have also obtained interim measures from various Courts, prepared Section 11 Applications before the High Courts or the Supreme Court and defended actions at all levels. The arbitration clauses are drafted under the guidance of arbitration practitioners who provide a perspective on how the clause may be interpreted by the arbitral tribunal and courts to ensure incorporation of effective clauses in agreements.