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When you just can't come to an agreement, court isn't the only answer. Arbitration is an out-of-court means of dispute resolution. When parties have a disagreement, the 'arbitrator' or 'arbiter' is a neutral third-party that reviews the case to determine what action should be taken, and will determine the terms under which the dispute will be settled. The decision of the arbitrator is final, and may be legally binding or non-binding.

If you have a dispute with your employer or over a commercial contract, it is likely that arbitration is mandatory to resolve any issues. Being an easier means than taking anyone to court, arbitration is often required for resolving disputes within a company and is most often used in settling commercial disputes. Does arbitration sound like your solution? Get started today – find the arbitration attorney or arbitrator you need in any specialty, in any state.


Arbitration News

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Arbitration and Gas Price Disputes

Monday, May 23, 2016

Reliance Industries Ltd (RIL) is considering whether it should withdraw pending arbitration with the government concerning gas prices. Withdrawal could result in RIL benefiting from higher prices. According to information from the company, its top management officials are considering two divergent views concerning arbitration. This could double gas prices and end the two year old case. At the moment, officials have not made a decision and it seems they are split on whether it is more benefit to continue the case or ending it. Both sides were presented to top officials and the board of directors will be responsible for making the final decision.


In March, the Cabinet decided a liberal price policy would occur only if it ended or withdrew disputes filed against government entities concerning gas prices. RIL execs met with Oil Minister Dharmendra Pradhan in April, which had many wondering if the company had begun the process of withdrawing arbitration.


As of January 2014 under the previous government, domestic natural gas price guidelines would have doubled, but the Election Commission did not allow the implementation of those guidelines. In May, RIL and Niko and BP took the government to court for not implementing the price increase.


A new government came into power in May 2014 and deferred the revision. In March, it launched what it considered crucial reforms for the oil and gas sector, based on the Petroleum Planning and Analysis Cell.


Sources close to RIL deny the firm discussed withdraw in their most recent April meeting, but did say the company is moving forward with its development plan for the KG Basin project.