Bangladesh Arbitration Act

The Bangladesh Arbitration Act provides a legal framework for resolving disputes outside courts through arbitration, where parties agree to have their issues settled by an impartial third party. It outlines how arbitration agreements are made, the process of appointing arbitrators, and procedures for conducting hearings. The act ensures that arbitration decisions, known as awards, are recognized and enforceable by law, promoting a fair, efficient, and binding alternative to traditional litigation. It aims to facilitate smoother dispute resolution, especially in commercial and contractual matters, supporting economic activity and business confidence.