Question 1

What is the Arbitration and Conciliation Act, 1996?

Accepted Answer

The Act is a legal framework in India that governs alternative dispute resolution methods, primarily arbitration and conciliation.

Question 2

How does arbitration work under the Act?

Accepted Answer

Arbitration is a process where parties submit their dispute to an arbitrator or a panel of arbitrators for a binding decision. The Act provides rules and procedures for conducting arbitrations.

Question 3

What is the difference between arbitration and conciliation?

Accepted Answer

In arbitration, the arbitrator(s) make a binding decision, while in conciliation, the conciliator assists the parties in reaching a mutually agreed settlement.

Question 4

Are there any limitations on the types of disputes that can be resolved through arbitration?

Accepted Answer

Arbitration is commonly used for commercial disputes but can also be used for various civil matters, subject to the agreement of the parties.

Question 5

How is an arbitrator appointed under the Act?

Accepted Answer

Arbitrators can be appointed by the parties directly or through an arbitration institution, as specified in the arbitration agreement.

Question 6

Can arbitration proceedings be challenged or set aside?

Accepted Answer

Yes, there are limited grounds on which an arbitral award can be challenged or set aside, as provided in the Act.

Question 7

Can parties to a dispute opt for international arbitration under the Act?

Accepted Answer

Yes, there are limited grounds on which an arbitral award can be challenged or set aside, as provided in the Act.

Arbitration and Conciliation Act MCQ’s Series

Practice Test 1

Practice Test 2

Practice Test 3

Practice Test 4

About Arbitration and Conciliation Act:

Features of Arbitration and Conciliation Act Multiple Choice Questions (MCQ):

FAQs