CONCILIATION: AN EFFECTIVE MODE OF ALTERNATIVE DISPUTE RESOLUTION SYSTEM
Keywords:
ADR, Conciliation, settlementAbstract
In the last few decades, ADR mechanism had burgeoned in the developing and developed countries alike. A recent study on ADR held in the United Stated and also in India suggests that the parties are generally pleased with conciliatory, comprehensive, and flexible procedures of ADR. Lately, Arbitration was considered to be a cheap and efficacious remedy under ADR system, however, now the situation is completely reversed. Arbitration proceedings have become more technical and expensive due to which the emphasis is now shifting to conciliation. The basic aim to opt for ADR mechanism is to reach a settlement between the parties and no party should feel aggrieved by the decision.
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