A generalized correlation for slip velocity in terms of fundamental variables (specifically excluding dispersed phase hold-up), using a large bank of published data along with those of the author is presented. A collection of 1412 experimental measurements (for 12 liquid-liquid systems from 13 different sources) representing slip velocity data over a wide range of variables is used for developing a new empirical correlation. The proposed correlations are more exact and simpler to use than the earlier correlations. In this present work, two regions of operations are also confirmed.