Dispute Resolution in Manufacturing Sector
India has seen a major growth in manufacturing over the last few decades. India’s economy is primarily based on agriculture, but it is slowly evolving to service and the manufacturing sector. Manufacturing has seen major growth in India, as it makes up about 18% of the GDP, and directly employs roughly 12% of the population. India also has over 2,35,000 manufacturing units all across the country. This clearly shows that we are focusing more on manufacturing and consuming within our country, rather than importing goods from elsewhere.
Many big companies like Apple, Samsung, LG, BMW and so on have started manufacturing in India itself. India is a developing market, and due to the internet revolution in the recent years, a lot more Indians are online now. This has generated a huge potential for new consumers, as more people will buy things like phones, electronics, cars etc. Many phone companies have also started manufacturing in India, so they can price their phones more reasonably, as they don’t have to pay the heavy import duty anymore. Everything is pointing towards huge growth in the manufacturing sector, and a rise in employment. As a manufacturing unit owner, you have to deal with a lot of domestic and international clients. Many contracts are signed, where you are supposed to manufacture hardware or specific parts for your clients. It is only natural that disputes and disagreements will arise. When you are dealing with so many companies and individuals, so frequently, disagreements are bound to happen. In this sector, dispute usually means a compromise in payment. This can affect you and your factory, as you will lose money along with the time you have put in to finish that order. This can also have an impact on your upcoming agreements projects. In India, many people are unaware about the law and sometimes overlook some clauses in a contract which can affect you later.
That is where PrivateCourt can help you. PrivateCourt is an entity which provides unbiased, balanced arbitration, mediation and negotiation services throughout India at a very affordable annual fee. It arbitrates via a third party, who specialize in the area of the dispute, and helps the clients reach a viable solution on amicable terms. All of these services can be availed from the comfort of your home and for a very affordable annual fee, which is quite insignificant when compared to the services provided by PrivateCourt. After you become a member of PrivateCourt, it will take care of all your contracts and disputes in the future.
Gireesh is the owner of a factory which produces mobile chip sets or Soc. He agreed on a contract with a major mobile company for the production of chipsets for their upcoming flagship phone. Although the deadline was near, Gireesh managed to complete the order. He did intensive quality checks to make sure everything was alright as big companies are very particular about their orders. Before the deadline, he sent out the order but during transit, about a quarter of the chipsets were damaged and the order reached the assembly plant of the company. After finding out about the damaged chipsets, the company was unhappy and decided to cut Gireesh’s payment but Gireesh was certain everything was alright. A dispute arose between the two, and thankfully, Gireesh was a member of PrivateCourt. PrivateCourt arbitrated this dispute with the help of a third-party dispute expert, and they came to a solution which was fair to both the parties. This was a win-win for the company and Gireesh, and they are still on good terms
Gireesh was prepared for the unexpected, and this saved him a lot of time and money. The entire case would have taken months or even years in civil court, but with PrivateCourt, it only took 2 weeks. You need to legally safeguard your business with PrivateCourt so you are prepared in case of a dispute. PrivateCourt offers quick and simple dispute resolution, and the fees you pay is nothing compared to what you will gain.
Check out PrivateCourt and become a member today!