This part of the Act deals with all the aspects involved in national arbitration, how can an arbitration proceeding be initiated? How will arbitration proceedings happen? What are the grounds for challenging arbitral awards? Basically, this part is quite wholesome and extensive in dealing with national arbitrations.
This part of the Act has been a new addition to the Act. This part was inserted via amendment in the year 2019. The aim of this part is to institutionalise arbitration and conciliation, so as to promote alternative dispute resolution mechanisms, as was one of the primary objective of this Act.
Arbitration is a growing ADR mechanism not just in India but also in the entire world. This part provides legitimacy to the foreign arbitral awards also in the Indian jurisdiction.
This part of the code deals with another ADR mechanism, Conciliation. This part is wholesome and is the sole legislation dealing with Conciliation in India.
This part is as the name states a supplement to the prior parts of this Act. This part comprises of provisions that are an ad-hoc to the previous parts of The Arbitration and Conciliation Act, 1996.