Ans.
Alternative
Dispute Resolution
ADR mechanism for dispute resolution includes face to face
negotiations through conciliation, mediation, mutual negotiations etc. ADR
mechanism is designed to provide amicable, quick, informal and nontraditional
method for resolution of commercial disputes compared to arbitration and
litigation which are the formal and traditional methods. ADR which took roots
in USA, has been gaining increasing popularity, recognition and use almost all
over the world. ADR is based on the principle "Prevention is better than
cure" aiming at prevention of disputes. As a cost and time saving method,
ADR is emerging fast and getting popular.
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