The construction industry is the most litigious industry. Construction projects are long-term and highly complex. It is nearly impossible to predict every uncertainty beforehand. This is why many situations arise that are not clearly addressed in the contract, leading to claims and disputes. As litigation can be a costly and long-drawn process, many construction companies resort to arbitration and other methods of alternative dispute resolution such as negotiation and mediation. Here are some of the advantages of arbitration and dispute resolution:
●A single procedure: It involves two or more parties who agree to resolve their construction dispute through a single agreed method. Both parties agree with the terms and conditions of the resolving methodologies and this saves a lot of time and prevents the dispute from complex litigation.
●Faster resolution: In India, arbitration and dispute resolution can get you faster resolution than litigation which can go on for years. Both parties have autonomy to a certain extent. In contrast to court litigation, they can choose the most appropriate decision-makers for their dispute. They may even choose the place and language of the proceedings.
●Flexible schedule: Arbitration and dispute resolution has a flexible schedule that can be scheduled according to both parties’ availability. Whereas court procedures have to go according to the official calendar and the hearing is done on the scheduled date. All this can consume months and sometimes years till the final verdict arrives.
●More autonomy to parties: Due to ADR’s private nature, parties have greater control over the way dispute resolution will take place which is not possible with the litigation method. In alternate dispute resolution, both parties can choose the most appropriate decision maker. The increased party autonomy can also result in a faster resolution of the dispute.
●No bias: Both parties agree to the third party, this ensures that no bias is involved in the decision-making process.
●Confidentiality: If both parties agree, they can keep the proceedings and result confidential. This saves both parties from negative publicity in the media. This helps them to maintain their reputation.
How to choose a dispute resolution service?
While looking for a good dispute resolution service, here is the list of a few things to consider:
●Reputation of the dispute resolution service provider: It is advisable to go for a reputable dispute resolution service provider that has techno-legal experts on board.
●Years of experience: Years of experience is another important thing that cannot be overlooked in choosing a dispute resolution service provider.
●Past successful resolution: For this, you can contact the service provider’s existing and previous client. Reputed dispute resolution providers mention about their successful arbitrations on their websites.
Looking for dispute resolution service?
If you are looking for a dispute resolution service, consider Contract Square. They have a highly qualified and specialised team for efficient contract and claims management. They have successful arbitrations to the tune of over Rs 12 billion. They are currently managing contracts worth around Rs 24 billion.
To know how they can help your construction company, call them at 9903023893 or mail them at firstname.lastname@example.org