Legal Question in Credit and Debt Law in India

credit card related

Dear sir, myself p.d--name removed-- from long time dew to personal(health) and finacial prob. i was not able to pay my credit card payment. and now people from bank(who provided me card) tell me to suit a case on basis of arbitration. so would u plez help me to tell what is arbitration? or give name of site from where i can find deep meaning of arbitration. thanking you..


Asked on 12/18/06, 11:52 am

1 Answer from Attorneys

Re: credit card related

dear sir,

Arbitration is a proceeding which is followed by parties to a agreement where parties agree to refer any future dispute or disputes to be deceided/adjudicated by the Arbitrator appointed by the parties.For detail understanding you may consult ARBITRATION & CONCILIATION ACT-1996.

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Answered on 12/18/06, 2:01 pm


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