Precursor To Arbitration: Understanding The Feasibility Of Conciliation As A Pre-Arbitration Mechanism'

Today's commercial dispute resolution landscape is undoubtedly leaning towards out-of-court resolution of disputes, predominantly Arbitration, to evade lengthy and time-consuming litigations. However, from the decades of the advent of the Arbitration mechanism to today, the ADR mechanism has undergone significant changes in law and practice. What had emerged as a one-stop panacea for the stress of litigation has itself been placed in a queue with other forms of alternative dispute resolution, and today, the commercial contracts involve multi-tier dispute resolution clauses requiring parties to undergo the process of being Conciliation and/or Mediation among several others.