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Is there any appeal provision for arbitration at the Exchange?

Is there any appeal provision for arbitration at the Exchange?

There any appeal provision for arbitration at the Exchange. However, a party to the reference who is dissatisfied with an award of the arbitration may challenge the same before the competent court of jurisdiction as provided in the Arbitration Act.

However party to the reference shall have to deposit the amount of award with the Exchange before filing the appeal and such amount shall be kept with the Exchange in abeyance and shall be disposed of eventually as per the direction of court.

Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute. In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.

One of the parties to the dispute who wants legal remedy for remedy for resolving dispute could apply for arbitration. On other words clients, trading member can apply for arbitration.


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