n NISM Certifications
NSM General NISM
Medium

What is the purpose of the Arbitration and Conciliation Act, 1996?

Practice question from IC 38 Mock Test 9 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    To enforce contracts through litigation

  2. To provide a less costly and private process of arbitration for settling contract disputes

    Correct answer

  3. C

    To submit disputes to a single arbitrator

  4. D

    To appoint two arbitrators to resolve disputes

A full explanation for this question is being written. In the meantime, the correct answer is highlighted above.

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IC 38 Mock Test 9