June 14,2019:
A panel of Arbitrators has stated that,"By 2025, construction market in India is expected to emerge as the third largest globally, while construction output is expected to grow on average by 7.1 per cent each year".
Opinion of the Arbitrator panel came at a workshop on 'Damages in Construction Arbitration' hosted by Nani Palkhivala Arbitration Centre (NPAC).
Former CJI Justice Dipak Misra stated that,"I have come here to learn and I will go back from here a better student."
Professor Douglas Jones AO, a leading independent international commercial and investor-state arbitrator and Professor Janet Walker, C.Arb, a reputed international dispute resolution specialist in Canada, both the panellists discussed the issues related to damages in construction arbitration.
They stated that in the backdrop of the statistics that by 2025, construction market in India is expected to emerge as the third largest globally, multiple perspectives related to damages in international arbitration, including considerations regarding Bifurcation of Damages would also emerge.
Panelists highlighted the extent and role of experts appointed to assist tribunal and parties and how the experts can assist tribunal and parties.
Professor Walker further added that Arbitration Tribunals can't oversee if a civil order is being carried out.
He stated that,"They don't have the powers to enforce the civic orders, because the specific orders often require some sort of supervision, or oversight to ensure they are performed, and this may carry on to a period where the tribunal no longer exists, unlike judges in courts."
Walker further added that effective use of arbitration experts can be remarkably helpful in controlling this delay in time and associated costs.
Source New Indian Express
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