Amended on 20th August, 2018, w.e.f. 3rd May, 2018, the Act now introduces mandatory mediation at the pre-institution stage for all commercial matters above (presently) one crore rupees.It is hoped that the rules framed under Section 12A (1) thereof are made conducive enough to secure for the disputants the basic tenets of party autonomy, whereby the parties can:
- Choose whether they would prefer ad hoc mediation or institutional;
- Select their own mediator;
- Tailor their process to suit their needs;
- Engage in the process at the venue of their choosing; and
- Resolve or settle their disputes on the basis of informed consent by self-determination.