Author – Ms. Prashansa Srivastava, Advocate, LL.M. (2023), UGC-NET (2023)
ABSTRACT
Arbitration, as an alternative dispute resolution mechanism, plays a crucial role in the modern legal landscape, offering parties a forum for resolving disputes outside traditional court systems. This paper critically examines the impact of arbitration on access to justice, focusing on its benefits, challenges, and future considerations. The analysis encompasses various dimensions, including the historical context of arbitration, the legal frameworks governing its practice, and its perceived advantages such as flexibility, specialization of arbitrators, and promotion of international trade.
However, arbitration also faces critiques concerning limited judicial oversight, confidentiality concerns, and unequal bargaining power, which may hinder access to justice, particularly for marginalized communities. Moreover, the future of arbitration presents challenges and opportunities shaped by technological advancements, globalization, and emerging issues such as climate change and cybersecurity. To address these challenges and seize the opportunities presented by arbitration, stakeholders in the arbitration community must collaborate to promote awareness, enhance institutional support, strengthen protections for vulnerable parties, and embrace technological innovations. By upholding the principles of fairness, impartiality, and accountability, while remaining adaptable to evolving trends, arbitration can continue to serve as a cornerstone of justice in an increasingly complex and interconnected world.
Keywords: Arbitration, Court System, Judicial Oversight, Technological Innovations, Interconnected World.
