Is arbitration a vehicle of dispute resolution in which parties to a contract selects a neutral arbitrator (or a panel of arbitrators) to present their dispute for a legally binding ruling.

Related MCQs

• The Indian Council of Arbitration promotes and administer ------------for dispute resolution and encouraging greater domestic and international commerce
• The first ever set of multilaterals, legally enforceable rules covering international trade in services is the General Agreement on Trade in services (GATS).
• There are at present -----------Export Promotion Councils under the administrative control of the Department of Commerce
• For clearance of goods from the warehouse the importer is required to present what is known as -----------------of entry.
• Automobile industry, having their own R&D establishment, is allowed free import of reference fuels (petrol and diesel), upto a maximum of -------------per annum, which are not manufactured in India.
• Which trade theory holds that nations can increase their economic well-being by specializing in the production of goods they produce more efficiently than anyone else
• To improve their international marketing operations ---------- are assisted by the way of trade fairs, buyers -sellers’ meets & market promotion programs.
• Bill of lading is a document supplied to the -------------by the shipping company that is transporting the goods to their foreign destination, listing them item by item
• Which theory holds that nations should produce those goods for which it has the greatest relative advantage?
• An important feature of Export License under which certain goods can be imported only by designated agencies. For an example, an item like gold, in bulk, can be imported only by specified banks like SBI and some foreign banks or designated agencies.