The Arbitration and Conciliation Act, 1996, is an Indian legislation that governs the process of arbitration and conciliation in the country. It provides a legal framework for resolving disputes through arbitration and conciliation, as opposed to traditional court litigation. The act encourages alternative dispute resolution methods, allowing parties to choose arbitrators, procedures, and locations for dispute resolution. It aims to make the arbitration process more efficient and enforceable, ensuring that awards are binding and can be enforced in Indian courts.
