About Tamilnadu Chamber of Commerce

Tamilnadu Chamber of Commerce and Industry (TN Chamber) was established in the year 1924 at Madurai with the primary objective of serving the cause of Trade and Industry. TN Chamber is one of the largest Chambers in India,well renowned and proactive, making effective and result oriented representations for the growth of trade & Industry and for the cause of public welfare.TN Chamber was responsible for getting several key infrastructure in Southern Tamilnadu for its Industrial and economic development.

The Chamber Arbitration Tribunal (ChaAT) administered by TN Chamber Foundation, was established by Tamilnadu Chamber of Commerce and Industry (TN Chamber), Madurai on 24.11.2007.

TN Chamber is the first chamber to establish an Arbitration Tribunal with Mediation Centre, an Alternate Dispute Resolution in Tamilnadu, excluding Chennai. The Chamber Arbitration Tribunal ( ChaAT) will provide solutions for commercial disputes.

Arbitration

1. What is commercial arbitration?

Arbitration is an alternative dispute resolution (ADR) which is agreed by parties of the dispute. Arbitration can be used to replace the traditional way of litigation in court. With such pros like simple procedure and flexibility as agreed by parties help parties to settle their dispute faster.

2. Advantages of commercial arbitration

Parties are facilitated with more autonomy with regards to procedural matters such as time, place, language, governing laws, etc. Moreover, normally, parties choosing arbitration do not have to go through different levels of adjudication, as in the national court system, which helps to save time and money for both sides

Mediation

1. What is mediation?

Mediation is the process of negotiating between parties in order to settle the disputes with the help from a third party (called mediator). Mediation shares many similarities with negotiation except one, there is no third party in negotiation guiding other parties through negotiating the process.

2. Advantages of commercial mediation

Mediation procedure is conducted promptly and flexibly; Parties can determine by themselves any person to become mediator as well as place of mediator. Therefore, with such choice, parties can select person whom has expertise knowledge on the issues of the case; With friendly nature, mediation is designed in order to maintain and develop relations for both parties’ benefit.

Why ChaAT