What is meant by 'Fast Track Procedure' to resolve the dispute between the parties, under the Arbitration and Conciliation Act, 1996. State the procedure to be followed by the arbitral tribunal while conducting arbitrati

According to Section 29B of the Arbitration and Conciliation Act, 1996, the parties to an arbitration agreement, may, at any stage either before or at the time of appointment of the arbitral tribunal, agree in writing to have their dispute resolved by fast track procedure. The arbitral tribunal shall follow the following procedure while conducting arbitration proceedings: The arbitral tribunal shall decide the dispute on the basis of written pleadings, documents and submissions filed by the parties without any oral hearing; The arbitral tribunal shall have power to call for any further information or clarification from the parties in addition to the pleadings and documents filed by them; An oral hearing may be held only, if, all the parties make a request or if the arbitral tribunal considers it necessary to have oral hearing for clarifying certain issues; The arbitral tribunal may dispense with any technical formalities, if an oral hearing is held, and adopt such procedure as deemed appropriate for expeditious disposal of the case. The award shall be made within a period of six months from the date the arbitral tribunal enters upon the reference.