Fast track arbitration is a streamlined arbitral procedure designed to resolve disputes within a strictly limited timeframe, usually by bypassing oral hearings and relying solely on written pleadings and documents.
This was formally introduced into Indian law via the 2015 Amendment. Under Section 29B, parties can agree in writing to this procedure at any stage. The key features include:
The tribunal consists of a sole arbitrator.
The award must be made within six months from the date the tribunal enters upon the reference.
The tribunal decides the dispute on the basis of written pleadings, documents, and submissions without an oral hearing, unless specifically requested or deemed necessary.
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