Do you know that the government is slowly progressing towards making India an Arbitration hub?
Are you aware that only 369 advocates as arbitrators are registered with the Indian Council of Arbitration?
Do you know nearly 80% contracts have an arbitration clause in them?
Indian Judicial Setup has been under the scrutiny for years for the delayed and pending cases. As a result individuals started seeking alternative dispute mechanisms for a faster and speedy process. Although the Arbitration and Conciliation Act, 1996 did not necessarily fill the gaps, however, the Act of 2015 and now the 2018 Bill approved by the Union Cabinet few days ago are being viewed as new hope in the arbitration regime.
There are nearly 35 arbitration institutes established in India, especially over the past 5 years. However, none of these institutes have more than 400 arbitrators registered with them. As per Dr. Education blog, “nearly 3, 73, 000 law students graduated alone in 2013.” In all possibilities with the opening of new National Law Universities and other private colleges, the number must have only increased.
Why is it that only few law students/legal professionals are opting for arbitration?
The basic reason for students not opting for arbitration is the lack of knowledge. Narmadeshwar Singh one of the co-founders of Centre for Advanced Research in Dispute Settlement (CARDS) at National Law University, Visakhapatnam says, “in most of the universities, arbitration as a subject is taught only for 3 months. This gives student little or no exposure to develop an interest.”
Roselin Sara Alex, a 4th year law student, who has regularly attended conferences on International Commercial Arbitration and aims to make a career in arbitration has a similar opinion, “Most of the students are skeptical about the career growth in arbitration. They either don't know about the opportunities or are not focussed towards this career path. The 2018 Bill is likely to change that. Let's hope for the best. ” The lack of knowledge is one of the main reasons why opportunities in arbitration are often ignored.
Apart from this, the fact that arbitration generally takes place behind closed doors and no one except the parties, their lawyers and arbitrators are involved in the arbitration proceedings, students are generally unaware with respect to what really happens in arbitration.
The Best Time To Venture Into Arbitration Is Right Now!
With the High Level Commission's report and the proposed Act of 2018, it is being predicted that India is marching ahead towards removing the bottlenecks associated with commercial arbitration. India is on the path of introducing an effective institutionalized machinery which might prove to be robust for the individuals planning to make a career in it. Just how every major amendment under any law creates some new opportunities the case is most likely to be similar with arbitration too.
If the Bill is passed, can you imagine the kind of edge you will have over others who would be involved with understanding the new Act and its nuances?
What are the career opportunities available in arbitration?
The opportunities in arbitration are countless. Though you can't become an arbitrator without prior domain knowledge but you can start by working as research assistants to arbitrators to help them with the research and understand how the arbitration functions. Apart from that, you can start as an arbitration lawyer. Join any law firm's dispute resolution team, assist in arbitration cases before various tribunals and institutes. An arbitration lawyer in India has ample opportunities in India and abroad. You can also apply for arbitration centres abroad, assist retired judges who act as arbitrators, become an academia or apply for LLM abroad.
I just have bookish knowledge about arbitration. What can I do to make it better?
Here is where we are ready to help you. Keeping the scope of arbitration in the near future in mind, LawSikho has come up with an online certificate course on Alternative Dispute Resolution from a Business Perspective: Practicing, Drafting and Procedure. This course is meant to provide you with insights strategically designed to give you all the practical knowledge related to arbitration, knowledge of drafting the contracts pertaining to arbitration, and different concepts pertaining unique to arbitration. This course is designed to bridge the gap between classroom knowledge and application of arbitration in the real world.
What are the course contents?
The course is designed to cover every aspect related to arbitration. Here is the content which we guarantee, no one else can offer :
Module 1: Arbitration Concepts
Module 2: Practical Arbitration Procedures
Module 3: Introduction to International Commercial Arbitration
Module 4: International Commercial Arbitration Procedures
Module 5: Conciliation and Expert Determination
Module 6: Mediation
Module 7: Video Tutorials of Sample Documents For Drafting Guidance
Who have created this course?
The team behind the course has experience of drafting and negotiating contracts worth billions for top law firms, large MNCs, startups and government projects. We have individuals like Arjun Natrajan, Anubhab Sarkar, Akshay Ubable, Prathik JM, Akanksha Sisodia, Shalvi Mehta among others who have designed this course for you.
Is this course certified?
Yes. Absolutely! This course is certified by LawSikho, an initiative of iPleaders, India's largest online legal education company.
FEES: INR 6, 500
DURATION: 3 Months
Where to enrol for the course?
To enrol for this course, click here.
Learn on the go - get immediate access on the web, android and iOS on enrolment!
Feel free to call on: +91 11-3313-8901 or email us at: email@example.com in case you have any queries.