Session 2 of the course covers Drafting Arbitration Agreements: Practical Considerations. Speaker, Rajendra Barot, began the session by acknowledging the importance of well-drafted yet simple arbitration clauses to avoid further disputes. In Rajendra Barot’s words, “A badly drafted arbitration clause is a lawyer’s paradise; simple can be much harder than complex.” He stated that expenses of the Arbitration proceedings are maintained by its timely winding up, and this is the primary driving force that attracts corporations towards this redressal mechanism.
The session was divided into two components. In the first half, the participants were given a Draft Arbitration Clause to work upon and identify the issues where there is scope for confusion or chaos. Discussions followed on possible amendments to the Clause. In the second segment of the session, the speaker differentiated between Ad-hoc and Institutional Arbitration, with focus on their advantages and limitations. Rajendra Barot also recommended the scope of the Arbitration agreement be kept wide, and unequivocal consent of both the parties be clearly visible in writing.