The Uniform Arbitration Act was passed in 1955. Most states have adopted the said law. It has ensured harmony of the law across jurisidictions and states and set a structured procedure that may be followed in any arbitration.
The Uniform Arbitration Act changed the common law position that only existing disputes and differences could be referrred to arbitration. For the first time it provided that parties can agree to refer also future disputes to arbitration.
It is a defaut Act in the sense that the parties can waive or contract out of the provisions of the act by making differnent arrangement. The Act would apply only when agreement between the parties is silent on any point. However, the parties cannot deviate from the fundamental or basic provisions of the Act , which are not derogable by nature such as sanctity of the arbitration agreement or award, impartiality of the arbitrator and so on.
To update the law in tune with changing times the Revised Uniform Arbitration Act was promulgated in August , 2000. The revised law ushered in sea changes.
Firstly, the arbitrator or the court on the prayer of the concerned party can provide for provisional remedies or interim reliefs in order to protect the subject matter of arbitration agreememnt before or during arbitration until enforcement of the award.
Secondly, the arbitrator may consolidate and try more than one case between the same parties together on the same dispute or involving common issues.
Thirdly the arbitrator enjoys immunity from civil suits as judges in a court of law.
Fourthly the arbitrator has the freedom to conduct the proceedings in such manner as he finds appropriate. He can use modern means of electronic communication including teleconferencing and video conferecing facilities for witness action.
Fifthly the arbitrator can make summary award on isssues convenient for the same and can award punitive or exemplary damages as a deterrent, where the situation warrants so.
