Arbitrators hear both the parties before arriving at a solution to their dispute. Conciliation: It is a process in which disputes resolve between the parties by appointing a conciliator who help (amicable) the disputed parties to arrive at a negotiated settlement
Arbitration and Conciliation Act, 1996 an act to consolidate and amend the law relating to domestic arbitration, international commercial arbitration and enforcement of foreign arbitral awards as also to define the law relating to conciliation and for matters connected therewith or incidental thereto.
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