In India it is governed by the Arbitration & Conciliation Act 1996. Arbitration proceedings are simplified forms of trial, with simpler rules and no discovery of evidence. The arbitral award is binding on both parties. The parties get to choose the arbitrator and the process can only happen with the consent of both parties involved. In addition to their selection of neutrals

of appropriate nationality, parties are able to choose such important elements as the applicable law, language and venue of the arbitration to ensure that no party enjoys a home court advantage. It is a confidential proceeding. There are various international arbitration institutions that are renowned worldwide. Some examples of these include: London Court of International Arbitration (LCIA), International Chamber of Commerce (ICC), Singapore International Arbitration Center, Hong Kong International Arbitration Center etc.