BACKGROUND Arbitration is an ancient concept and its origin can be traced back to Greek and Roman City-States. As early as the sixth century B.C., Greek city-states were resolving disputes like ownership of properties, assessment of damages, etc. through arbitration. Even the works of eminent historians like Herodotus and Thucydides refer to arbitration. Under Roman law, the term ‘ compropmissum ’ or compromise was a well-known and oft chosen mode of dispute resolution and is considered to be a precursor of arbitration. India also has a long tradition of arbitration and the concept of non-judicial dispute resolution was prevalent in the Indian society, before any codified law. The works of Yajnavalka refers to certain special arbitration courts in ancient India. Even the panchayat system in India is considered as one of the earliest forms of arbitration. While describing the concept of arbitration, Chief Justice A. Marten observed as “ It is indeed a striking feature of ordinary Ind
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