Explanation:

If the matter is below 20 crores, then the amount for the arbitrator's fee is fixed at 30 lakhs. Earlier, arbitrators used to collect fees according to their own Arbitraton is an alternative dispute resolution process in which the parties settle their disputes through the intervention of a third person and without resorting to court. It is a method in which a dispute is placed before a designated person (called 'arbitrator' or 'arbitrator') who decides the issue in a quasi-judicial manner after hearing both sides. For example, referring a dispute to 'Panch' or 'Panchayat' is a form of arbitration.