17.5 Major Provisions of the Arbitration Act, 2055 (1999)

The Nepali statute, as amended — the modernized framework's architecture: The minimal-intervention policy: the court's role confined — the stay of court proceedings on the arbitration clause's operation (the suit filed despite the clause: the reference's enforcement); the appointment's and the interim measures' assistance; the award's execution; Party autonomy's breadth: the arbitrator's choice; the procedure's choice; the seat-and- language; The arbitration's procedure: the notice-and-claim's initiation; the pleadings-and-hearing; the natural-justice floor; The award's discipline: the reasoned writing; the timeline; the setting-aside's narrow grounds; The interim measures' court-support (the assets' preservation pending the award — the arbitration's efficiency protected); The international face: the foreign awards' New York Convention enforcement; the investment-treaty arbitration (the BIPA-based ISDS — Nepal's treaty consents; the infrastructure-disputes horizon); The institutional practice: the arbitral institutions' growth (the chambers-and-centres; the NICCI line) beside the ad hoc references. Arbitration vs. litigation (the closing table): Point Arbitration Litigation The judge The parties' chosen arbitrator The state's court Procedure Flexible, party-designed Formal, statutory Privacy Confidential Public Finality Narrow challenge only The appeal ladder Speed-and-cost Faster, cheaper (usually) The docket's delay and expense Enforcement Decree-like execution Direct Exam Focus Long questions: "Explain arbitration with its essential elements, importance and procedures under the Arbitration Act 2055." / "What are the elements of a valid award? On what grounds may an award be set aside?" /…