1. To set up, run and manage the Institute of Arbitration through a team of experienced Professionals, Lawyers & retired Judges for the resolution of Commercial and Family Disputes referred by any Court of Law or on application by any individual through a simple, harmonious, cost-effective and speedy process as one of its services to the business community and the individuals in order to minimize the supervisory role of the courts in the arbitral process against charging nominal arbitration fee subject to all legal and other approvals so required. The institution shall be neutral, unbiased, and independent in order to administer and conduct National & International Arbitration, Conciliation, and Mediation being viable alternatives to national & transnational litigation as litigation may be costly, time-consuming, and may lead to a permanent breakdown in business relationships.
2. To conduct Training, Courses, academic programs, and workshops on Alternate Dispute Resolution including but not limited to Arbitration, Mediation, Conciliation, and its awareness to the business community and General Public and also professional training to provide professional neutrals with integrity, impartiality, and expertise.
3. To perform the above related functions and strictly in adherence to and abide by the provisions of relevant laws.
4. To set up liaison offices in other cities where deemed appropriate. The liaison offices shall be branches of the Institute and may perform the relevant functions in accordance with the Rules of PIAM.

if the parties decide to have their dispute settled by arbitrators or binding advisors instead of the court, or if they wish to attempt, with the help of a mediator, to reach a compromise if a dispute arises, they must conclude an agreement to effect, arbitration, binding advice and mediation required different agreements and all these three forms of alternate dispute resolution can be agreed ( in Clauses) before a dispute arises, but even if that has not be done, it is still possible to do so when a dispute arises ( in dispute resolution agreement in case of arbitration and binding advice)
Arbitration clauses are standard paragraph that may be included in contracts without the consent of PIAM even without any cost being incurred. In most of the agreements as well contract it is sufficient to include a standard clause, in practice, these clauses has proven to formulating in such a way as cause to the fewest problems. This is particularly important when a clause is included in standard terms and conditions and PIAM provides advice in such like cases.
Arbitration or binding advice agreements are laid down in a dispute resolution agreement if the parties opt for this form of alternate dispute resolution if a dispute has already arisen. It is important that dispute resolution agreement must have at least the name of the parties, a broad description of the dispute and the desire and commitment of the parties to have this dispute settled by means of arbitration in accordance with the PIAM arbitration rules or binding advice as the case may be.
The parties may include a mediation clause that they will endeavor to resolve (future) disputes with the help of mediator, but even without making any arrangements the parties may turn to the PIAM with the request to ask the other party or parties involved whether they willing to conclude an agreement with an aims to resolve the disputes by means of mediation according to PIAM rules. If all parties agree to this a mediator is may appointed and mediator conclude the mediation agreement between the parties.

ARBITRATION

“Arbitration is a process in which parties to a dispute hire a neutral person (the arbitrator) to listen to each side, present evidence, and then render a decision.”

1. Arbitration is a process that takes place outside of the courts, but still results in a final and legally binding decision similar to a court judgment. Parties involved in Arbitration opt out of the court system and submit their case for resolution by a neutral, third party arbitrator. The reasons for selecting arbitration vary from case to case. Arbitration is generally faster, less expensive and more informal than going to courts. It also has the advantage of being private and confidential.
2. Within the limits permitted by law, parties are free to negotiate the ground rules under which they want the arbitration to take place, such as the number of arbitrators or whether formal rules of evidence will apply. Binding arbitration clauses can be written into most kinds of business contracts, requiring that in the event a dispute arises in conjunction with the contract, the parties will go to binding arbitration instead of to court. The cost of arbitration is generally shared by the parties.
3. The decision of an arbitrator is binding on the parties to the arbitration as a court judgment, and it can be enforced by the courts, if necessary.

MEDIATION

1. Mediation is a process in which parties to a dispute hire a neutral person (the Mediator) to facilitate discussion and negotiation between the parties with the goal of helping the parties to reach a settlement of their dispute. An arbitrator usually has the authority to render a binding decision on the parties. The mediator cannot impose a result on the parties; that is, they must voluntarily agree to make the results of the mediation binding.
2. Pak Institute of Arbitrators & Mediators (PIAM) will be the first institution of its kind in Pakistan being registered under Section 42 of the Companies Ordinance, 1984 as an NPO. It shall follow national & international standard rules and code of ethics governing arbitration & mediation proceedings.