what is arbitration


hi, i had to pay debit balance to my broker as a result of loss in currency futures.and i was tradins as offline client.now i have no more money to pay to broker.now they have sent a letter for arbitration.what should i do next and what will be the result of the arbitration.and i think this loss happend due to the negligence of broker also as they have prompted to me overtrade than my invested funds.pl advice

 
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Advocate

If the broker is responsible in your case even then the facts can be brought in detail before the arbitrator. It is not good to shy negotiation in the presence of arbitrator.

 
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Lawyer in Hyderabad.Email:ramachary64@gmail.com

Mr. Kuttan,

Arbitration is the determination of a matter in dispute by the judgment of one or more persons, called arbitrators, who in case of difference usualy in an umpire to decide between them.

 
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Lawyer in Hyderabad.Email:ramachary64@gmail.com

comparing with the ordinary litigations, the arbitral proceedings are very cheap and quick.An award passed by the arbitral tribunal is equal to a decree of a civil court.

 
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Lawyer in Hyderabad.Email:ramachary64@gmail.com

If there was a dispute As per the bye-laws of NSE, you have to apply for arbitration within 6 months from the date of dispute. 

 
 
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